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

Republic Services (NYSE:RSG) had its target price lifted by stock analysts at Oppenheimer from $262.00 to $268.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target would indicate a potential upside of 11.67% from the company’s previous close.

Several other analysts also recently weighed in on the company. Citigroup boosted their price target on Republic Services from $265.00 to $278.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley upped their target price on Republic Services from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Raymond James Financial restated an “outperform” rating on shares of Republic Services in a research note on Wednesday, April 16th. Seaport Res Ptn upgraded Republic Services to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their target price on Republic Services from $229.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.21.

Republic Services Trading Down 0.2%

RSG opened at $239.99 on Wednesday. The firm has a market cap of $75.00 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 3.69 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.10. Republic Services has a 12 month low of $188.82 and a 12 month high of $258.75. The stock has a fifty day moving average price of $248.33 and a 200-day moving average price of $234.34.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. Republic Services had a return on equity of 18.28% and a net margin of 12.88%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the company posted $1.45 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Republic Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC acquired a new stake in shares of Republic Services in the 2nd quarter worth approximately $39,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Republic Services by 1.0% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 82,000 shares of the business services provider’s stock worth $20,222,000 after acquiring an additional 800 shares during the period. Wedmont Private Capital grew its holdings in Republic Services by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,871 shares of the business services provider’s stock valued at $691,000 after buying an additional 104 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in Republic Services by 5.9% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 43,428 shares of the business services provider’s stock valued at $10,707,000 after buying an additional 2,410 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Republic Services by 5.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,699 shares of the business services provider’s stock valued at $7,817,000 after buying an additional 1,769 shares during the last quarter. Institutional investors and hedge funds 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.