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

Republic Services (NYSE:RSG) had its price target lifted by Morgan Stanley from $220.00 to $230.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 0.02% from the company’s current price.

Several other research firms also recently commented on RSG. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $219.00 to $237.00 in a research note on Monday, January 6th. Truist Financial raised their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. CIBC raised their price target on Republic Services from $217.00 to $227.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $211.00 to $238.00 in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $237.00 in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Republic Services Stock Up 2.5 %

RSG stock traded up $5.56 during midday trading on Friday, hitting $230.05. The stock had a trading volume of 184,844 shares, compared to its average volume of 945,775. Republic Services has a 52-week low of $177.03 and a 52-week high of $232.52. The firm has a market cap of $72.04 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 3.24 and a beta of 0.74. The business has a 50-day moving average of $210.65 and a two-hundred day moving average of $207.06. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64.

Republic Services (NYSE:RSG) last released its earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. 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 company earned $1.41 EPS. As a group, equities research analysts forecast that Republic Services will post 6.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Republic Services

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the transaction, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Katharine Weymouth sold 1,859 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $189,222.33. The trade was a 67.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new position in Republic Services in the third quarter worth approximately $25,000. Arcadia Investment Management Corp MI raised its holdings in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after purchasing an additional 88 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Republic Services by 351.6% during the third quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock worth $28,000 after purchasing an additional 109 shares in the last quarter. R Squared Ltd acquired a new stake in Republic Services during the fourth quarter worth approximately $32,000. Finally, Truvestments Capital LLC acquired a new position in shares of Republic Services in the 3rd quarter valued at $34,000. Hedge funds and other 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.