Republic Services' (RSG) "Outperform" Rating Reiterated at BMO Capital Markets

Key Points

• BMO Capital Markets has increased its price target for Republic Services from $280.00 to $284.00, suggesting a potential upside of 21.06% from the stock's previous close.
• The company's stock recently traded down 4.6% to $234.59, with analysts currently holding an average rating of "Moderate Buy" and a target price of $258.89.
• Institutional investors own 57.73% of Republic Services, with Vanguard Group being one of the notable shareholders, increasing its holdings by 0.9% in the last quarter.

Republic Services (NYSE:RSG - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at BMO Capital Markets in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $284.00 price objective on the business services provider's stock, up from their prior price objective of $280.00. BMO Capital Markets' price objective indicates a potential upside of 22.82% from the company's previous close.

A number of other equities research analysts have also commented on RSG. Scotiabank increased their price objective on shares of Republic Services from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Robert W. Baird increased their price target on shares of Republic Services from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Republic Services from $229.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Wall Street Zen lowered Republic Services from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Raymond James Financial boosted their target price on Republic Services from $257.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Republic Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Republic Services Price Performance

Shares of NYSE:RSG traded up $0.59 during trading on Wednesday, reaching $231.24. The stock had a trading volume of 1,481,289 shares, compared to its average volume of 1,410,647. The stock has a market capitalization of $72.20 billion, a PE ratio of 34.21, a P/E/G ratio of 3.60 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66. Republic Services has a 52 week low of $193.75 and a 52 week high of $258.75. The business's 50-day moving average price is $245.82 and its 200 day moving average price is $238.39.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.01. Republic Services had a return on equity of 18.27% and a net margin of 12.97%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business's revenue was up 4.6% on a year-over-year basis. As a group, equities analysts predict that Republic Services will post 6.86 earnings per share for the current year.

Institutional Investors Weigh In On Republic Services

A number of hedge funds have recently modified their holdings of RSG. Golden State Wealth Management LLC increased its stake in Republic Services by 3,533.3% during the 1st quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Republic Services by 1,222.2% in the second quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider's stock valued at $29,000 after buying an additional 110 shares during the period. Key Financial Inc increased its position in shares of Republic Services by 380.8% during the first quarter. Key Financial Inc now owns 125 shares of the business services provider's stock worth $30,000 after acquiring an additional 99 shares in the last quarter. TCTC Holdings LLC raised its holdings in shares of Republic Services by 113.8% during the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock worth $30,000 after acquiring an additional 66 shares during the period. Finally, Elequin Capital LP bought a new stake in Republic Services in the 1st quarter valued at $30,000. Institutional investors and hedge funds 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.