Republic Services (NYSE:RSG) Price Target Raised to $217.00 at Morgan Stanley

Republic Services (NYSE:RSG) had its price objective upped by investment analysts at Morgan Stanley from $208.00 to $217.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 9.60% from the stock’s current price.

A number of other equities analysts have also commented on RSG. StockNews.com lowered shares of Republic Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James decreased 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 report on Thursday, July 25th. BMO Capital Markets upped their target price on shares of Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, William Blair initiated coverage on shares of Republic Services in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Trading Down 0.4 %

Shares of Republic Services stock opened at $198.00 on Wednesday. Republic Services has a 12-month low of $146.82 and a 12-month 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. The stock has a market cap of $62.19 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 3.21 and a beta of 0.69. The company has a 50-day moving average of $203.59 and a two-hundred day moving average of $196.66.

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

Insider Activity

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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Republic Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 18,254,878 shares of the business services provider’s stock worth $3,494,714,000 after acquiring an additional 101,518 shares in the last quarter. Capital World Investors lifted its holdings in shares of Republic Services by 20.5% in the first quarter. Capital World Investors now owns 7,909,008 shares of the business services provider’s stock valued at $1,514,100,000 after purchasing an additional 1,346,588 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Republic Services by 2.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,520,738 shares of the business services provider’s stock valued at $506,265,000 after purchasing an additional 57,040 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Republic Services by 5.4% in the second quarter. Legal & General Group Plc now owns 1,808,580 shares of the business services provider’s stock valued at $351,480,000 after purchasing an additional 92,013 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Republic Services by 2.1% in the second quarter. TD Asset Management Inc now owns 1,757,757 shares of the business services provider’s stock valued at $341,602,000 after purchasing an additional 35,650 shares in the last quarter. 57.73% of the stock is currently 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.