Oppenheimer Lowers Republic Services (NYSE:RSG) Price Target to $263.00

Key Points

• Oppenheimer has reduced its price target for Republic Services from $268.00 to $263.00, maintaining an "outperform" rating that suggests a 17.08% upside potential from the last closing price.
• Other firms, like Citigroup and Barclays, have also adjusted their price objectives for Republic Services, reflecting varied analyst sentiments with ratings ranging from "buy" to "equal weight."
• The company's stock is trading at approximately $224.64, with a market capitalization of $70.14 billion and a consensus rating of "Moderate Buy" among analysts.

Republic Services (NYSE:RSG - Get Free Report) had its target price decreased by equities research analysts at Oppenheimer from $268.00 to $263.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Oppenheimer's price objective indicates a potential upside of 17.08% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Services in a research note on Saturday, September 27th. Citigroup dropped their price objective on shares of Republic Services from $280.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Barclays began coverage on shares of Republic Services in a report on Friday, September 19th. They issued an "equal weight" rating and a $240.00 price objective for the company. BMO Capital Markets upped their price objective on shares of Republic Services from $280.00 to $284.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, National Bankshares decreased their target price on shares of Republic Services from $270.00 to $241.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.35.

Republic Services Price Performance

NYSE RSG traded up $1.89 on Wednesday, hitting $224.64. The company had a trading volume of 435,856 shares, compared to its average volume of 1,263,596. The company has a market capitalization of $70.14 billion, a PE ratio of 33.25, a PEG ratio of 3.48 and a beta of 0.59. The company's fifty day moving average price is $230.62 and its 200-day moving average price is $240.08. 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 12-month low of $197.60 and a 12-month high of $258.75.

Republic Services (NYSE:RSG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.01. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The company had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The firm's quarterly revenue was up 4.6% on a year-over-year basis. Republic Services has set its FY 2025 guidance at 6.820-6.900 EPS. As a group, analysts predict that Republic Services will post 6.86 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Cascade Investment, L.L.C. bought 4,258 shares of Republic Services stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $234.91 per share, with a total value of $1,000,246.78. Following the completion of the transaction, the insider owned 109,816,832 shares in the company, valued at $25,797,072,005.12. The trade was a 0.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregg Brummer sold 7,338 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $233.94, for a total transaction of $1,716,651.72. Following the transaction, the executive vice president directly owned 4,060 shares in the company, valued at approximately $949,796.40. This trade represents a 64.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On Republic Services

Several institutional investors have recently bought and sold shares of RSG. Brighton Jones LLC increased its holdings in Republic Services by 75.8% during the fourth quarter. Brighton Jones LLC now owns 19,822 shares of the business services provider's stock valued at $3,988,000 after buying an additional 8,547 shares during the period. UMB Bank n.a. increased its holdings in Republic Services by 5.9% during the first quarter. UMB Bank n.a. now owns 2,008 shares of the business services provider's stock valued at $486,000 after buying an additional 111 shares during the period. Park Avenue Securities LLC boosted its stake in Republic Services by 11.6% in the first quarter. Park Avenue Securities LLC now owns 8,596 shares of the business services provider's stock valued at $2,082,000 after acquiring an additional 894 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Republic Services by 29.6% in the first quarter. Farther Finance Advisors LLC now owns 7,811 shares of the business services provider's stock valued at $1,904,000 after acquiring an additional 1,782 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Republic Services by 61.6% in the first quarter. GAMMA Investing LLC now owns 9,193 shares of the business services provider's stock valued at $2,226,000 after acquiring an additional 3,503 shares in the last quarter. 57.73% of the stock is 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.

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