Royal Bank of Canada Boosts Republic Services (NYSE:RSG) Price Target to $219.00

Republic Services (NYSE:RSG) had its price objective increased by investment analysts at Royal Bank of Canada from $211.00 to $219.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.85% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of Republic Services from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. William Blair initiated coverage on Republic Services in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. CIBC lifted their target price 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. Finally, Scotiabank started coverage on shares of Republic Services in a research note on Friday, October 4th. They issued a “sector perform” rating and a $224.00 price target on the stock. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.12.

Republic Services Stock Performance

Shares of Republic Services stock traded down $3.11 during trading on Wednesday, hitting $201.20. 386,343 shares of the company’s stock were exchanged, compared to its average volume of 1,123,431. The stock has a market capitalization of $63.19 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.21 and a beta of 0.69. The business has a 50-day simple moving average of $203.91 and a 200-day simple moving average of $196.64. Republic Services has a 52-week low of $146.82 and a 52-week high of $208.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services (NYSE:RSG) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Republic Services will post 6.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the sale, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its stake in shares of Republic Services by 351.6% in the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Republic Services during the 1st quarter worth about $29,000. Webster Bank N. A. purchased a new position in shares of Republic Services in the 3rd quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of Republic Services during the second quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in Republic Services in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

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.