CIBC Increases Republic Services (NYSE:RSG) Price Target to $217.00

Republic Services (NYSE:RSG) had its price objective upped by analysts at CIBC from $208.00 to $217.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. CIBC’s target price points to a potential upside of 8.65% from the company’s current price.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James dropped their price objective on shares of Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Truist Financial raised their target price on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets increased their price objective on Republic Services from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, William Blair assumed coverage on Republic Services in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Stock Down 2.2 %

Shares of NYSE RSG traded down $4.58 during trading hours on Wednesday, hitting $199.73. 618,711 shares of the stock were exchanged, compared to its average volume of 1,124,538. The company has a market cap of $62.73 billion, a PE ratio of 33.62, a PEG ratio of 3.21 and a beta of 0.69. Republic Services has a 12 month low of $146.82 and a 12 month high of $208.69. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $203.91 and a 200-day moving average price of $196.64.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.62 by $0.19. Republic Services had a return on equity of 17.81% and a net margin of 12.11%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Republic Services will post 6.18 EPS for the current year.

Insider Activity

In related news, Director Tomago Collins sold 3,200 shares of the stock in a transaction on 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 directly owns 17,486 shares of the company’s stock, valued at approximately $3,549,832.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue increased its holdings in shares of Republic Services by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 22,190 shares of the business services provider’s stock valued at $4,248,000 after purchasing an additional 100 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Republic Services by 8.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 8,202 shares of the business services provider’s stock worth $1,570,000 after acquiring an additional 668 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Republic Services by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 16,210 shares of the business services provider’s stock valued at $3,043,000 after acquiring an additional 439 shares during the last quarter. Norden Group LLC grew its holdings in shares of Republic Services by 13.3% in the first quarter. Norden Group LLC now owns 3,829 shares of the business services provider’s stock valued at $733,000 after purchasing an additional 449 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in Republic Services by 12.1% during the first quarter. J.W. Cole Advisors Inc. now owns 2,056 shares of the business services provider’s stock worth $394,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds 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.