Bank of America Issues Pessimistic Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its price objective lowered by Bank of America from $271.00 to $241.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Bank of America‘s price target indicates a potential upside of 13.12% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research note on Friday, October 31st. Scotiabank decreased their price objective on shares of Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Republic Services in a report on Monday, December 15th. UBS Group reduced their price target on Republic Services from $260.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Finally, Jefferies Financial Group set a $248.00 price objective on Republic Services and gave the company a “buy” rating in a research note on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $250.64.

Republic Services Price Performance

NYSE:RSG opened at $213.04 on Monday. Republic Services has a 52-week low of $199.43 and a 52-week high of $258.75. The company has a market cap of $65.95 billion, a P/E ratio of 31.70, a P/E/G ratio of 3.41 and a beta of 0.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $213.69 and its 200 day simple moving average is $228.06.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, sell-side analysts forecast that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Transactions at Republic Services

In other news, Director Katharine Weymouth acquired 478 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $209.46 per share, with a total value of $100,121.88. Following the acquisition, the director directly owned 5,740 shares in the company, valued at $1,202,300.40. This represents a 9.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Republic Services

A number of hedge funds have recently bought and sold shares of RSG. Bowen Hanes & Co. Inc. lifted its position in shares of Republic Services by 7.3% during the second quarter. Bowen Hanes & Co. Inc. now owns 254,540 shares of the business services provider’s stock valued at $62,772,000 after purchasing an additional 17,280 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Republic Services by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 479,222 shares of the business services provider’s stock valued at $116,048,000 after buying an additional 43,387 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Republic Services during the 1st quarter worth approximately $22,078,000. Ascent Group LLC boosted its stake in shares of Republic Services by 6.3% in the 2nd quarter. Ascent Group LLC now owns 19,063 shares of the business services provider’s stock worth $4,701,000 after buying an additional 1,130 shares during the last quarter. Finally, Groupe la Francaise grew its holdings in shares of Republic Services by 88.7% in the second quarter. Groupe la Francaise now owns 58,142 shares of the business services provider’s stock valued at $14,299,000 after acquiring an additional 27,338 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.