Truist Financial Forecasts Strong Price Appreciation for Republic Services (NYSE:RSG) Stock

Republic Services (NYSE:RSG) had its price objective lifted by Truist Financial from $220.00 to $244.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective points to a potential upside of 23.23% from the stock’s current price.

RSG has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Republic Services from $201.00 to $211.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Robert W. Baird lifted their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. TD Cowen upped their price objective on shares of Republic Services from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Monday, August 5th. William Blair began coverage on shares of Republic Services in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, CIBC upped their price target on shares of Republic Services from $196.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Price Performance

Shares of NYSE:RSG opened at $198.00 on Wednesday. The stock has a market cap of $62.19 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.17 and a beta of 0.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59. Republic Services has a 12 month low of $146.82 and a 12 month high of $208.69. The stock’s 50 day moving average price is $203.59 and its 200 day moving average price is $196.66.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Republic Services will post 6.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Several large investors have recently bought and sold shares of RSG. TD Asset Management Inc boosted its position in Republic Services by 424.7% in the first quarter. TD Asset Management Inc now owns 1,722,107 shares of the business services provider’s stock valued at $329,680,000 after buying an additional 1,393,918 shares in the last quarter. Capital World Investors boosted its holdings in shares of Republic Services by 20.5% in the 1st quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock worth $1,514,100,000 after acquiring an additional 1,346,588 shares in the last quarter. M&G Plc bought a new stake in Republic Services during the 1st quarter worth approximately $130,892,000. International Assets Investment Management LLC increased its holdings in Republic Services by 83,671.9% during the 3rd quarter. International Assets Investment Management LLC now owns 538,653 shares of the business services provider’s stock valued at $108,183,000 after purchasing an additional 538,010 shares in the last quarter. Finally, Earnest Partners LLC raised its position in Republic Services by 16.9% in the 1st quarter. Earnest Partners LLC now owns 1,262,519 shares of the business services provider’s stock valued at $241,697,000 after purchasing an additional 182,645 shares during the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.