Republic Services (NYSE:RSG) Given New $254.00 Price Target at Barclays

Republic Services (NYSE:RSG) had its price target hoisted by analysts at Barclays from $240.00 to $254.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective would indicate a potential upside of 3.30% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada lifted their target price on shares of Republic Services from $272.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday. Wolfe Research began coverage on shares of Republic Services in a research note on Tuesday, September 15th. They set a “peer perform” rating for the company. Morgan Stanley cut their price target on shares of Republic Services from $232.00 to $219.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Citigroup boosted their price objective on shares of Republic Services from $259.00 to $281.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Scotiabank restated a “sector perform” rating and issued a $236.00 price objective on shares of Republic Services in a report on Thursday, October 15th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Republic Services currently has a consensus rating of “Moderate Buy” and an average price target of $248.85.

Republic Services Price Performance

RSG traded up $1.86 on Monday, reaching $245.90. The stock had a trading volume of 1,523,680 shares, compared to its average volume of 1,526,843. Republic Services has a fifty-two week low of $196.41 and a fifty-two week high of $249.37. The firm has a 50-day moving average of $222.47 and a 200-day moving average of $216.81. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $75.30 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 3.92 and a beta of 0.32.

Republic Services (NYSE:RSG) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.42 billion. Republic Services had a return on equity of 18.56% and a net margin of 12.93%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.90 earnings per share. As a group, sell-side analysts anticipate that Republic Services will post 7.26 EPS for the current year.

Insider Activity at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. acquired 324,810 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was bought at an average cost of $222.89 per share, for a total transaction of $72,396,900.90. Following the completion of the transaction, the insider directly owned 117,058,444 shares in the company, valued at $26,091,156,583.16. This represents a 0.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 6,254,462 shares of company stock valued at $1,380,321,958. Corporate insiders own 0.12% of the company’s stock.

Institutional Trading of Republic Services

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Republic Services in the 2nd quarter valued at about $3,798,092,000. State Street Corp increased its holdings in Republic Services by 1.6% in the second quarter. State Street Corp now owns 9,953,507 shares of the business services provider’s stock worth $2,120,893,000 after purchasing an additional 160,051 shares in the last quarter. Bank of America Corp DE bought a new stake in Republic Services in the second quarter worth approximately $682,573,000. Allspring Global Investments Holdings LLC lifted its stake in Republic Services by 68.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,256,190 shares of the business services provider’s stock valued at $497,828,000 after buying an additional 913,249 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Republic Services by 1.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,434 shares of the business services provider’s stock worth $454,379,000 after buying an additional 28,996 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

About Republic Services

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.