Republic Services (RSG) Given New $64.00 Price Target at Credit Suisse Group

Republic Services (NYSE:RSG) had its price target reduced by analysts at Credit Suisse Group from $67.00 to $64.00 in a research report issued on Monday. The brokerage presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 3.29% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RSG. BMO Capital Markets decreased their price target on shares of Republic Services from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday. Zacks Investment Research upgraded shares of Republic Services from a “hold” rating to a “strong-buy” rating and set a $75.00 price target for the company in a research report on Wednesday, February 7th. Bank of America upped their price target on shares of Republic Services from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Stifel Nicolaus upgraded shares of Republic Services from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $73.00 in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $68.57.

Republic Services (RSG) opened at $61.96 on Monday. The stock has a market cap of $20,521.99, a P/E ratio of 16.35, a P/E/G ratio of 1.94 and a beta of 0.53. Republic Services has a 12-month low of $58.06 and a 12-month high of $69.40. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 0.94.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Republic Services had a net margin of 12.73% and a return on equity of 10.61%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 7.6% on a year-over-year basis. analysts anticipate that Republic Services will post 3.06 earnings per share for the current year.

Republic Services announced that its board has approved a share buyback plan on Thursday, November 2nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, CEO Donald W. Slager sold 98,132 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $64.19, for a total value of $6,299,093.08. Following the sale, the chief executive officer now directly owns 322,541 shares of the company’s stock, valued at approximately $20,703,906.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian A. Goebel sold 1,220 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following the completion of the sale, the chief accounting officer now directly owns 7,406 shares in the company, valued at $504,052.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,063 shares of company stock worth $8,816,258. Insiders own 0.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Republic Services by 0.4% in the 4th quarter. BlackRock Inc. now owns 20,030,671 shares of the business services provider’s stock valued at $1,354,276,000 after purchasing an additional 84,721 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Republic Services by 5.4% in the 4th quarter. American Century Companies Inc. now owns 7,882,739 shares of the business services provider’s stock valued at $532,952,000 after purchasing an additional 405,985 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Republic Services by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,833,445 shares of the business services provider’s stock valued at $453,398,000 after purchasing an additional 23,456 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Republic Services by 4.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,426,154 shares of the business services provider’s stock valued at $366,863,000 after purchasing an additional 224,249 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Republic Services by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,847,676 shares of the business services provider’s stock valued at $254,177,000 after purchasing an additional 102,801 shares during the last quarter. 59.31% of the stock is currently owned by institutional investors.

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About Republic Services

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.

Analyst Recommendations for Republic Services (NYSE:RSG)

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