The Goldman Sachs Group Issues Positive Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its price target lifted by stock analysts at The Goldman Sachs Group from $239.00 to $265.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 16.11% from the company’s previous close.

Several other equities analysts have also commented on the company. Truist Financial reiterated a “buy” rating and set a $250.00 price objective (up from $244.00) on shares of Republic Services in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Royal Bank of Canada raised shares of Republic Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Stifel Nicolaus lifted their target price on shares of Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, CIBC lifted their target price on shares of Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus price target of $229.25.

Republic Services Stock Performance

NYSE:RSG traded down $3.15 during trading hours on Tuesday, reaching $228.22. The stock had a trading volume of 1,219,246 shares, compared to its average volume of 986,144. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a 50 day simple moving average of $211.31 and a 200 day simple moving average of $207.76. Republic Services has a 12-month low of $179.62 and a 12-month high of $232.52. The stock has a market cap of $71.47 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.21. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. During the same period in the previous year, the business earned $1.41 earnings per share. On average, research analysts forecast that Republic Services will post 6.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the sale, the director now owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning increased its stake in shares of Republic Services by 8.1% during the third quarter. Creative Planning now owns 31,447 shares of the business services provider’s stock valued at $6,316,000 after buying an additional 2,360 shares during the period. Whittier Trust Co. increased its stake in shares of Republic Services by 14.5% during the third quarter. Whittier Trust Co. now owns 1,162 shares of the business services provider’s stock valued at $233,000 after buying an additional 147 shares during the period. Mattern Wealth Management LLC purchased a new position in shares of Republic Services during the third quarter valued at $201,000. Eastern Bank bought a new stake in Republic Services during the third quarter valued at about $673,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Republic Services by 22.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 11,000 shares of the business services provider’s stock valued at $2,209,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 57.73% of the company’s stock.

Republic Services Company Profile

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.