Scotiabank Cuts Republic Services (NYSE:RSG) Price Target to $242.00

by · The Cerbat Gem

Republic Services (NYSE:RSG – Get Free Report) had its target price cut by investment analysts at Scotiabank from $246.00 to $242.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s target price points to a potential upside of 13.90% from the stock’s current price.

A number of other brokerages also recently issued reports on RSG. Raymond James Financial reiterated an “outperform” rating and issued a $240.00 price target on shares of Republic Services in a research note on Friday, October 31st. Oppenheimer set a $256.00 price target on Republic Services in a research note on Friday, October 31st. The Goldman Sachs Group initiated coverage on Republic Services in a report on Monday, November 24th. They issued a “buy” rating and a $255.00 price objective on the stock. Citigroup lowered their price target on Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Republic Services in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.86.

Read Our Latest Report on Republic Services

Republic Services Stock Up 0.9%

Shares of RSG traded up $1.84 during mid-day trading on Wednesday, hitting $212.46. 109,932 shares of the company’s stock were exchanged, compared to its average volume of 1,361,417. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $65.77 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 3.45 and a beta of 0.55. The stock’s 50-day moving average is $212.82 and its 200-day moving average is $223.11. Republic Services has a fifty-two week low of $201.42 and a fifty-two week high of $258.75.

Republic Services (NYSE:RSG – Get Free Report) last released its earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a net margin of 12.77% and a return on equity of 18.24%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the business earned $1.81 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth purchased 478 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the transaction, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Financial Consulate Inc. acquired a new stake in Republic Services in the third quarter valued at $25,000. Wealth Watch Advisors INC purchased a new position in shares of Republic Services in the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Republic Services by 121.8% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Republic Services by 1,222.2% during the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in Republic Services during the third quarter worth about $29,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Company Profile

(Get Free Report)

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.

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