Citigroup Issues Positive Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its price target hoisted by investment analysts at Citigroup from $259.00 to $281.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Citigroup‘s target price would suggest a potential upside of 15.44% from the stock’s current price.

A number of other brokerages also recently commented on RSG. Weiss Ratings upgraded Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Morgan Stanley dropped their target price on shares of Republic Services from $232.00 to $219.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Sanford C. Bernstein lifted their target price on shares of Republic Services from $220.00 to $227.00 and gave the company a “market perform” rating in a research note on Monday, August 10th. The Goldman Sachs Group reduced their price target on shares of Republic Services from $256.00 to $246.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Finally, UBS Group increased their price target on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Republic Services has a consensus rating of “Moderate Buy” and a consensus price target of $248.15.

Republic Services Trading Down 0.3%

Shares of NYSE RSG traded down $0.62 during mid-day trading on Monday, hitting $243.42. The stock had a trading volume of 423,398 shares, compared to its average volume of 1,524,619. The business has a 50 day moving average price of $222.47 and a two-hundred day moving average price of $216.81. Republic Services has a 1 year low of $196.41 and a 1 year high of $249.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 0.75. The firm has a market cap of $74.54 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 3.92 and a beta of 0.32.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.01. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. On average, equities analysts anticipate that Republic Services will post 7.26 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Cascade Investment, L.L.C. purchased 409,500 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average cost of $221.49 per share, with a total value of $90,700,155.00. Following the transaction, the insider directly owned 116,166,330 shares in the company, valued at $25,729,680,431.70. This trade represents a 0.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 6,254,462 shares of company stock worth $1,380,321,958 in the last ninety days. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Services

Institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc bought a new stake in Republic Services during the 2nd quarter valued at about $25,000. Laurel Wealth Advisors LLC purchased a new position in Republic Services in the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Republic Services in the 2nd quarter valued at approximately $27,000. Compass Financial Management LLC purchased a new stake in Republic Services during the 2nd quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Republic Services by 47.3% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 52 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.