Republic Services (NYSE:RSG) Rating Increased to Outperform at Royal Bank of Canada

Republic Services (NYSE:RSG) was upgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $237.00 price target on the business services provider’s stock, up from their previous price target of $219.00. Royal Bank of Canada’s price objective suggests a potential upside of 17.89% from the stock’s current price.

A number of other analysts also recently commented on the company. CIBC upped their price objective on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Scotiabank initiated coverage on shares of Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Truist Financial boosted their price objective on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer raised their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, William Blair began coverage on Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.12.

Republic Services Price Performance

Shares of NYSE:RSG opened at $201.04 on Monday. The business has a fifty day simple moving average of $208.38 and a 200-day simple moving average of $203.62. Republic Services has a 52 week low of $162.27 and a 52 week high of $220.58. The company has a market cap of $62.96 billion, a P/E ratio of 32.17, a P/E/G ratio of 3.30 and a beta of 0.71. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.07.

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, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a net margin of 12.46% and a return on equity of 18.18%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Republic Services will post 6.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the business’s 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 transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

Hedge funds have recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in Republic Services during the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC grew its position in Republic Services by 351.6% in the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after buying an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new position in Republic Services during the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Republic Services in the second quarter valued at approximately $36,000. Institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.