Republic Services (NYSE:RSG) Stock Price Expected to Rise, CIBC Analyst Says

Republic Services (NYSE:RSG) had its price objective increased by stock analysts at CIBC from $208.00 to $217.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s price objective would suggest a potential upside of 9.60% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird increased their price target on Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Oppenheimer increased their price target on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James cut their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, BMO Capital Markets increased their price target on Republic Services from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Republic Services presently has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Price Performance

Shares of Republic Services stock opened at $198.00 on Wednesday. Republic Services has a one year low of $146.82 and a one year high of $208.69. The stock’s fifty day moving average is $203.59 and its 200 day moving average is $196.66. The stock has a market cap of $62.19 billion, a P/E ratio of 31.68, a P/E/G ratio of 3.21 and a beta of 0.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.59 and a current ratio of 0.59.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the firm earned $1.54 EPS. Republic Services’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Republic Services will post 6.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $203.01, for a total value of $649,632.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at approximately $3,549,832.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Trading of Republic Services

Several institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments lifted its stake in Republic Services by 652.5% in the third quarter. Summit Global Investments now owns 16,795 shares of the business services provider’s stock worth $3,373,000 after purchasing an additional 14,563 shares during the last quarter. Graypoint LLC lifted its stake in Republic Services by 6.4% in the third quarter. Graypoint LLC now owns 1,457 shares of the business services provider’s stock worth $293,000 after purchasing an additional 87 shares during the last quarter. Umpqua Bank bought a new stake in Republic Services in the third quarter worth about $352,000. Harvest Portfolios Group Inc. lifted its stake in Republic Services by 18.5% in the third quarter. Harvest Portfolios Group Inc. now owns 5,388 shares of the business services provider’s stock worth $1,082,000 after purchasing an additional 840 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its stake in Republic Services by 4.1% in the third quarter. Catalina Capital Group LLC now owns 4,484 shares of the business services provider’s stock worth $901,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.