Republic Services (NYSE:RSG) Upgraded at Argus

Key Points

• Argus upgraded Republic Services from “hold” to “buy,” setting a $275 price target, about 10.37% above the prior close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock a Buy and seven a Hold, with a consensus “Moderate Buy” rating and $252.10 average price target.
• In its latest reported quarter, Republic Services earned $1.94 per share, slightly above estimates, while revenue of $4.56 billion beat expectations and rose 8.2% year over year.

Republic Services (NYSE:RSG - Get Free Report) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating in a report issued on Thursday, Benzinga reports. The firm presently has a $275.00 price objective on the business services provider's stock. Argus's target price points to a potential upside of 10.37% from the company's previous close.

Several other research analysts also recently commented on the company. Morgan Stanley reduced their price objective on Republic Services from $232.00 to $219.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 13th. Wells Fargo & Company upped their target price on shares of Republic Services from $234.00 to $270.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Deutsche Bank reduced their target price on shares of Republic Services from $270.00 to $258.00 in a research report on Friday, October 9th. Raymond James Financial set a $235.00 price target on shares of Republic Services in a research note on Friday, October 9th. Finally, Barclays raised their price target on shares of Republic Services from $240.00 to $254.00 and gave the stock an "equal weight" rating in a research note on Monday, November 2nd. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $252.10.

Republic Services Price Performance

Shares of NYSE RSG opened at $249.15 on Thursday. The firm has a market cap of $75.90 billion, a PE ratio of 34.46, a PEG ratio of 4.11 and a beta of 0.32. The firm has a fifty day moving average of $226.47 and a 200 day moving average of $218.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.75 and a current ratio of 0.75. Republic Services has a one year low of $196.41 and a one year high of $254.39.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.01. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.42 billion. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. As a group, research analysts predict that Republic Services will post 7.27 EPS for the current fiscal year.

Insider Buying and Selling at Republic Services

In other Republic Services news, major shareholder Cascade Investment, L.L.C. bought 409,500 shares of Republic Services stock in a transaction on Tuesday, September 8th. The shares were bought at an average price of $221.49 per share, for a total transaction of $90,700,155.00. Following the completion of the transaction, the insider directly owned 116,166,330 shares of the company's stock, valued at $25,729,680,431.70. This trade represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have bought 5,389,838 shares of company stock worth $1,193,847,528. Insiders own 0.12% of the company's stock.

Institutional Trading of Republic Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new position in Republic Services in the 2nd quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Republic Services in the third quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Republic Services in the second quarter valued at $27,000. Compass Financial Management LLC purchased a new position in Republic Services in the second quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Republic Services by 47.3% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider's stock valued at $35,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 57.73% of the company's stock.

Republic Services Company Profile

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.

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