Republic Services (NYSE:RSG) had its target price raised by analysts at Bank of America from $70.00 to $73.00 in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the business services provider’s stock. Bank of America’s target price would indicate a potential upside of 7.92% from the stock’s current price.
A number of other research firms also recently weighed in on RSG. Zacks Investment Research downgraded shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus raised shares of Republic Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $73.00 in a research report on Thursday, January 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $72.00 target price on shares of Republic Services in a research report on Friday, October 13th. Finally, Credit Suisse Group reduced their target price on shares of Republic Services from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Republic Services presently has a consensus rating of “Hold” and an average target price of $69.14.
Republic Services (NYSE:RSG) traded down $0.60 during trading hours on Monday, hitting $67.64. 210,362 shares of the stock were exchanged, compared to its average volume of 1,122,771. The stock has a market cap of $22,807.48, a P/E ratio of 28.70, a PEG ratio of 3.00 and a beta of 0.53. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.93. Republic Services has a 12-month low of $57.31 and a 12-month high of $69.40.
Republic Services announced that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, insider Donald W. Slager sold 32,421 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $64.00, for a total transaction of $2,074,944.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian A. Goebel sold 1,220 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $68.06, for a total transaction of $83,033.20. Following 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. Insiders have sold a total of 137,063 shares of company stock worth $8,816,258 over the last three months. 0.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in RSG. American Century Companies Inc. grew its position in Republic Services by 5.4% during 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. PGGM Investments grew its position in Republic Services by 116.3% during the 3rd quarter. PGGM Investments now owns 516,174 shares of the business services provider’s stock valued at $34,098,000 after purchasing an additional 277,585 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Republic Services by 14.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,586,935 shares of the business services provider’s stock valued at $104,833,000 after purchasing an additional 198,620 shares during the last quarter. Victory Capital Management Inc. grew its position in Republic Services by 8.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,249,231 shares of the business services provider’s stock valued at $152,070,000 after purchasing an additional 174,621 shares during the last quarter. Finally, Shell Asset Management Co. grew its position in Republic Services by 135.5% during the 3rd quarter. Shell Asset Management Co. now owns 240,600 shares of the business services provider’s stock valued at $9,388,000 after purchasing an additional 138,428 shares during the last quarter. 59.57% 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.
