Republic Services, Inc. (RSG) Price Target Cut to $70.00 by Analysts at Bank of America Corporation
Republic Services, Inc. (NYSE:RSG) had its target price lowered by investment analysts at Bank of America Corporation from $72.00 to $70.00 in a report released on Thursday. The firm presently has a “buy” rating on the business services provider’s stock. Bank of America Corporation’s target price would suggest a potential upside of 10.57% from the stock’s previous close.
Several other research firms have also weighed in on RSG. Stifel Nicolaus lowered shares of Republic Services from a “buy” rating to a “hold” rating and lowered their price objective for the company from $76.00 to $70.00 in a research note on Wednesday. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Royal Bank Of Canada restated an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. KeyCorp restated a “hold” rating on shares of Republic Services in a research note on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $71.33.
Republic Services (RSG) traded up 0.608% on Thursday, hitting $63.695. 1,006,266 shares of the stock traded hands. The company has a market cap of $21.45 billion, a price-to-earnings ratio of 32.698 and a beta of 0.60. The stock has a 50-day moving average price of $65.51 and a 200 day moving average price of $64.07. Republic Services has a 1-year low of $49.18 and a 1-year high of $67.18.
Republic Services (NYSE:RSG) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. Republic Services had a net margin of 6.86% and a return on equity of 10.42%. Republic Services’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. On average, analysts anticipate that Republic Services will post $2.39 EPS for the current fiscal year.
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In other Republic Services news, EVP Catharine D. Ellingsen sold 14,250 shares of Republic Services stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.02, for a total transaction of $940,785.00. Following the transaction, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at approximately $528,622.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald W. Slager sold 22,608 shares of Republic Services stock in a transaction on Friday, September 29th. The stock was sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the transaction, the insider now directly owns 246,617 shares in the company, valued at $16,289,052.85. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock worth $2,854,922 over the last ninety days. Insiders own 0.40% of the company’s stock.
Several large investors have recently modified their holdings of RSG. BlackRock Inc. boosted its holdings in shares of Republic Services by 2,800.0% in the 1st quarter. BlackRock Inc. now owns 19,058,635 shares of the business services provider’s stock worth $1,197,070,000 after buying an additional 18,401,448 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Republic Services by 13,584.4% in the 2nd quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock worth $238,663,000 after buying an additional 3,717,509 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Republic Services by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 18,796,178 shares of the business services provider’s stock worth $1,180,588,000 after buying an additional 1,086,931 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Republic Services by 89.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock worth $105,397,000 after buying an additional 778,800 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Republic Services in the 1st quarter worth about $39,751,000. 60.57% of the stock is currently owned by institutional investors.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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