Republic Services (NYSE:RSG) Price Target Increased to $230.00 by Analysts at The Goldman Sachs Group

Republic Services (NYSE:RSG) had its target price increased by investment analysts at The Goldman Sachs Group from $209.00 to $230.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 21.96% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. UBS Group downgraded shares of Republic Services from a “buy” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $195.00 in a report on Thursday, February 29th. Truist Financial boosted their price objective on shares of Republic Services from $175.00 to $192.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Wells Fargo & Company boosted their price objective on shares of Republic Services from $180.00 to $188.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Scotiabank initiated coverage on shares of Republic Services in a research note on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective for the company. Finally, Morgan Stanley downgraded shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.77.

Republic Services Price Performance

Shares of NYSE RSG traded up $1.34 during midday trading on Tuesday, hitting $188.58. The company had a trading volume of 186,484 shares, compared to its average volume of 1,168,364. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Republic Services has a twelve month low of $135.33 and a twelve month high of $192.57. The business has a 50-day simple moving average of $184.72 and a two-hundred day simple moving average of $167.88. The firm has a market capitalization of $59.40 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.29 and a beta of 0.68.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.13. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Republic Services will post 6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares of the company’s stock, valued at $15,669,303.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bogart Wealth LLC bought a new position in shares of Republic Services in the fourth quarter valued at about $30,000. FinTrust Capital Advisors LLC increased its holdings in shares of Republic Services by 56.3% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 197 shares of the business services provider’s stock worth $28,000 after acquiring an additional 71 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Republic Services during the 4th quarter worth approximately $34,000. Jones Financial Companies Lllp increased its holdings in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 211 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Republic Services in the 4th quarter valued at $37,000. 57.73% of the stock is owned by institutional investors.

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.