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

Republic Services (NYSE:RSG) had its price objective upped by investment analysts at Oppenheimer from $219.00 to $220.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target would suggest a potential upside of 11.11% from the company’s previous close.

A number of other analysts also recently weighed in on RSG. William Blair initiated coverage on shares of Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Raymond James lowered their target price on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Truist Financial upped their price target on shares of Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, StockNews.com cut Republic Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Republic Services Trading Down 0.4 %

RSG opened at $198.00 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.59. Republic Services has a fifty-two week low of $146.82 and a fifty-two week high of $208.69. The company’s 50 day moving average price is $203.59 and its two-hundred day moving average price is $196.66. The firm has a market capitalization of $62.19 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 3.17 and a beta of 0.69.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company earned $1.54 EPS. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Republic Services will post 6.23 earnings per share for the current year.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RSG. Wolff Wiese Magana LLC lifted its stake in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 109 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Republic Services in the first quarter valued at about $29,000. Webster Bank N. A. bought a new position in shares of Republic Services during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in Republic Services during the second quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Republic Services in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors 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.