Bank of America Issues Pessimistic Forecast for Republic Services (NYSE:RSG) Stock Price

by · The Cerbat Gem

Republic Services (NYSE:RSG – Get Free Report) had its target price cut by equities researchers at Bank of America from $271.00 to $241.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Bank of America‘s target price indicates a potential upside of 13.16% from the company’s previous close.

A number of other brokerages have also commented on RSG. Citigroup cut their price target on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Barclays began coverage on Republic Services in a report on Friday, September 19th. They set an “equal weight” rating and a $240.00 target price on the stock. Oppenheimer set a $256.00 price objective on Republic Services in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $240.00 target price on shares of Republic Services in a research report on Friday, October 31st. Finally, Stifel Nicolaus dropped their price target on shares of Republic Services from $257.00 to $251.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.64.

View Our Latest Stock Analysis on Republic Services

Republic Services Stock Performance

Shares of RSG stock opened at $212.97 on Monday. The firm has a market capitalization of $65.93 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 3.41 and a beta of 0.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $214.12 and its 200-day moving average price is $228.62. Republic Services has a 12 month low of $199.43 and a 12 month high of $258.75.

Republic Services (NYSE:RSG – Get Free Report) last released its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) 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 company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Republic Services will post 6.86 EPS for the current year.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were bought at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the transaction, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. The trade was a 9.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Republic Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Consulate Inc. acquired a new stake in shares of Republic Services in the 3rd quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new stake in Republic Services in the third quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Republic Services during the 3rd quarter valued at $29,000. 57.73% of the stock is owned by institutional investors.

About Republic Services

(Get Free Report)

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.

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