Republic Services (NYSE:RSG) Given New $242.00 Price Target at Scotiabank

Republic Services (NYSE:RSG) had its target price decreased by Scotiabank from $246.00 to $242.00 in a research note published on Wednesday morning, Marketbeat reports. Scotiabank currently has a sector perform rating on the business services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays cut their price target on shares of Republic Services from $237.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday. Bank of America reduced their price target on Republic Services from $271.00 to $241.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Oppenheimer set a $256.00 price target on Republic Services in a research report on Friday, October 31st. The Goldman Sachs Group began coverage on Republic Services in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 price objective on the stock. Finally, Jefferies Financial Group set a $248.00 target price on Republic Services and gave the company a “buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.86.

Republic Services Price Performance

RSG opened at $214.25 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $213.00 and its 200 day simple moving average is $223.05. The firm has a market cap of $66.32 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.44 and a beta of 0.55. Republic Services has a 1 year low of $201.42 and a 1 year high of $258.75.

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

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were acquired at an average cost of $209.46 per share, with a total value of $100,121.88. Following the completion of the acquisition, the director owned 5,740 shares of the company’s stock, valued at $1,202,300.40. The trade was a 9.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC raised its stake in Republic Services by 3.3% during the 4th quarter. Capital Investment Advisory Services LLC now owns 1,997 shares of the business services provider’s stock valued at $423,000 after buying an additional 64 shares during the last quarter. McElhenny Sheffield Capital Management LLC grew its holdings in shares of Republic Services by 12.1% in the fourth quarter. McElhenny Sheffield Capital Management LLC now owns 1,737 shares of the business services provider’s stock worth $368,000 after acquiring an additional 187 shares during the period. Oak Thistle LLC purchased a new stake in Republic Services during the fourth quarter valued at $2,420,000. Greenleaf Trust lifted its holdings in Republic Services by 35.7% in the fourth quarter. Greenleaf Trust now owns 5,941 shares of the business services provider’s stock valued at $1,259,000 after acquiring an additional 1,564 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its position in Republic Services by 13.6% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 17,440 shares of the business services provider’s stock worth $3,696,000 after purchasing an additional 2,085 shares during the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

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.