Republic Services, Inc. (NYSE:RSG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Republic Services reported strong third-quarter 2017 results, with healthy year-over-year increase in earnings and revenues. The company is currently focusing on a series of quality acquisition opportunities, primarily of recycling assets, which are likely to act as a catalyst for a healthy long-term growth within its top 25 markets. It is also transitioning to a fee-based recycling processing model to cover processing costs and generate a healthy ROI. Republic Services outperformed the industry year to date. However, commodity price headwinds remain a significant impediment to growth. Margin pressure also remains a bottleneck as Republic Services has more exposure to Collection services that generate the lowest margin, while protracted weakness in special waste and tight municipal budgets remain additional headwinds. In addition, increased competitive pressure remains a cause for concern.”

A number of other research firms have also issued reports on RSG. Stifel Nicolaus lowered shares of Republic Services from a “buy” rating to a “hold” rating and reduced their price target for the stock from $76.00 to $70.00 in a research report on Wednesday, October 4th. BidaskClub lowered shares of Republic Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. KeyCorp reaffirmed a “hold” rating on shares of Republic Services in a research report on Thursday, August 24th. Finally, Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Republic Services has an average rating of “Hold” and an average target price of $68.29.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.54 billion. Republic Services had a net margin of 8.15% and a return on equity of 10.57%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share.

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In other Republic Services news, EVP Catharine D. Ellingsen sold 14,250 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the transaction, the executive vice president now owns 8,007 shares in the company, valued at $528,622.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total value of $420,878.50. Following the transaction, the executive vice president now owns 428 shares in the company, valued at approximately $28,462. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,187 shares of company stock worth $2,854,922. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RSG. Janus Henderson Group PLC grew its holdings in Republic Services by 13,584.4% during the second quarter. Janus Henderson Group PLC now owns 3,744,875 shares of the business services provider’s stock valued at $238,663,000 after purchasing an additional 3,717,509 shares during the last quarter. BlackRock Inc. grew its holdings in Republic Services by 6.4% during the second quarter. BlackRock Inc. now owns 20,282,248 shares of the business services provider’s stock valued at $1,292,589,000 after purchasing an additional 1,223,613 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Republic Services by 89.0% during the second quarter. Renaissance Technologies LLC now owns 1,653,800 shares of the business services provider’s stock valued at $105,397,000 after purchasing an additional 778,800 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Republic Services by 39.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,592,679 shares of the business services provider’s stock valued at $101,501,000 after purchasing an additional 452,390 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Republic Services by 2.2% during the second quarter. Vanguard Group Inc. now owns 19,214,975 shares of the business services provider’s stock valued at $1,224,571,000 after purchasing an additional 418,797 shares during the last quarter. Institutional investors own 60.65% of the company’s stock.

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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Analyst Recommendations for Republic Services (NYSE:RSG)

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