Republic Services (NYSE:RSG) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Republic Services (NYSE:RSG - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a "sector perform" rating and a $198.00 price target on the business services provider's stock. Royal Bank of Canada's price target indicates a potential upside of 5.03% from the stock's current price.

Several other equities research analysts also recently commented on RSG. Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a "buy" rating in a report on Monday, March 18th. Oppenheimer boosted their target price on shares of Republic Services from $182.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Truist Financial lifted their price target on Republic Services from $175.00 to $192.00 and gave the company a "hold" rating in a research report on Wednesday, February 28th. Citigroup increased their price objective on Republic Services from $190.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. Finally, Stifel Nicolaus lifted their target price on Republic Services from $175.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, December 19th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Republic Services currently has an average rating of "Moderate Buy" and an average price target of $198.15.

Republic Services Stock Performance

Republic Services stock traded up $0.12 during mid-day trading on Monday, reaching $188.52. 1,221,942 shares of the company's stock were exchanged, compared to its average volume of 1,185,070. The firm has a market capitalization of $59.31 billion, a PE ratio of 34.46, a P/E/G ratio of 3.30 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business's fifty day simple moving average is $183.16 and its 200 day simple moving average is $166.37. Republic Services has a one year low of $133.81 and a one year high of $192.57.

Republic Services (NYSE:RSG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.13. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.73 billion. Republic Services had a net margin of 11.57% and a return on equity of 17.32%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, sell-side analysts expect that Republic Services will post 6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ark Jon Vander sold 5,446 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $184.10, for a total value of $1,002,608.60. Following the sale, the chief executive officer now directly owns 85,113 shares of the company's stock, valued at $15,669,303.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of Republic Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its position in Republic Services by 19.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 357 shares of the business services provider's stock valued at $59,000 after acquiring an additional 59 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Republic Services by 2.4% during the 4th quarter. Scotia Capital Inc. now owns 2,708 shares of the business services provider's stock valued at $447,000 after buying an additional 64 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Republic Services by 2.1% during the 4th quarter. Kestra Advisory Services LLC now owns 3,120 shares of the business services provider's stock valued at $515,000 after purchasing an additional 65 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Republic Services by 0.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,150 shares of the business services provider's stock valued at $4,147,000 after buying an additional 66 shares during the last quarter. Finally, Parcion Private Wealth LLC grew its holdings in Republic Services by 0.3% during the fourth quarter. Parcion Private Wealth LLC now owns 23,808 shares of the business services provider's stock valued at $3,926,000 after purchasing an additional 68 shares during the period. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

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.