Republic Services (NYSE:RSG) Upgraded by CIBC to Sector Outperform Rating

Republic Services (NYSE:RSG) was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

RSG has been the subject of a number of other research reports. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price target (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. UBS Group lifted their price target on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group increased their price objective on Republic Services from $239.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Republic Services has an average rating of “Moderate Buy” and a consensus target price of $234.56.

Republic Services Stock Down 1.7 %

Shares of RSG traded down $4.08 during midday trading on Tuesday, hitting $235.55. 1,166,932 shares of the company’s stock traded hands, compared to its average volume of 1,029,662. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $73.56 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. Republic Services has a 1 year low of $180.91 and a 1 year high of $240.95. The firm’s fifty day moving average is $216.48 and its 200-day moving average is $210.05.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company earned $1.41 earnings per share. As a group, sell-side analysts anticipate that Republic Services will post 6.86 earnings per share for the current year.

Insider Activity at Republic Services

In other Republic Services news, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now owns 879 shares in the company, valued at approximately $189,222.33. This trade represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the sale, the chief operating officer now owns 10,416 shares of the company’s stock, valued at approximately $2,376,931.20. The trade was a 37.66 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

Several institutional investors and hedge funds have recently bought and sold shares of RSG. FSA Wealth Management LLC acquired a new position in Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI lifted its stake in shares of Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. R Squared Ltd purchased a new position in shares of Republic Services during the 4th quarter worth $32,000. Truvestments Capital LLC purchased a new stake in Republic Services in the 3rd quarter valued at about $34,000. Finally, New Age Alpha Advisors LLC lifted its position in Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 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.