Republic Services (NYSE:RSG) Stock Rating Upgraded by BMO Capital Markets

Republic Services (NYSE:RSG) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a $238.00 target price on the business services provider’s stock, up from their previous target price of $211.00. BMO Capital Markets’ price objective would indicate a potential upside of 9.84% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair started coverage on Republic Services in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Scotiabank started coverage on Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price target on the stock. Oppenheimer raised their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Republic Services currently has an average rating of “Moderate Buy” and an average price target of $217.88.

Republic Services Price Performance

NYSE RSG opened at $216.68 on Friday. The firm’s fifty day simple moving average is $207.56 and its two-hundred day simple moving average is $200.98. The firm has a market capitalization of $67.85 billion, a P/E ratio of 34.67, a P/E/G ratio of 3.29 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. Republic Services has a 12-month low of $160.41 and a 12-month high of $220.58.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.20. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 EPS. Analysts forecast that Republic Services will post 6.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total value of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Services

Institutional investors have recently modified their holdings of the company. Simmons Bank raised its stake in Republic Services by 2.8% in the third quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after buying an additional 51 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Republic Services by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock valued at $1,024,000 after acquiring an additional 52 shares during the last quarter. RFG Advisory LLC raised its position in shares of Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock worth $2,061,000 after acquiring an additional 53 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Republic Services by 2.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after purchasing an additional 53 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Republic Services by 16.5% in the third quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 54 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.