Scotiabank Initiates Coverage on Republic Services (NYSE:RSG)

Research analysts at Scotiabank began coverage on shares of Republic Services (NYSE:RSG) in a report issued on Friday, Briefing.com reports. The firm set a “sector perform” rating and a $224.00 price target on the business services provider’s stock. Scotiabank’s target price points to a potential upside of 10.95% from the stock’s previous close.

RSG has been the topic of several other research reports. Oppenheimer dropped their target price on shares of Republic Services from $211.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Republic Services from $201.00 to $211.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Raymond James reduced their target price on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. William Blair began coverage on Republic Services in a research report on Thursday. They set an “outperform” rating for the company. Finally, Truist Financial raised Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $192.00 to $220.00 in a research note on Thursday, July 11th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $211.65.

Republic Services Trading Up 0.9 %

RSG opened at $201.90 on Friday. The company’s 50 day moving average is $202.34 and its 200-day moving average is $194.77. The company has a market cap of $63.58 billion, a P/E ratio of 35.42, a PEG ratio of 3.20 and a beta of 0.69. Republic Services has a 1-year low of $141.56 and a 1-year high of $208.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Republic Services (NYSE:RSG) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.03 billion. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. Equities research analysts predict that Republic Services will post 6.18 earnings per share for the current fiscal year.

Insider Activity at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the sale, the director now owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Republic Services

Several hedge funds have recently made changes to their positions in RSG. SG Americas Securities LLC raised its position in Republic Services by 46.4% in the third quarter. SG Americas Securities LLC now owns 131,779 shares of the business services provider’s stock valued at $26,466,000 after purchasing an additional 41,792 shares during the period. Czech National Bank lifted its holdings in Republic Services by 6.6% during the 3rd quarter. Czech National Bank now owns 41,586 shares of the business services provider’s stock worth $8,352,000 after buying an additional 2,578 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Republic Services by 6.3% in the second quarter. Centaurus Financial Inc. now owns 3,161 shares of the business services provider’s stock valued at $614,000 after purchasing an additional 186 shares in the last quarter. Anchor Investment Management LLC grew its position in shares of Republic Services by 1.7% in the 2nd quarter. Anchor Investment Management LLC now owns 37,297 shares of the business services provider’s stock valued at $7,248,000 after buying an additional 640 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Republic Services by 1,946.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 136,279 shares of the business services provider’s stock worth $26,484,000 after purchasing an additional 129,619 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.