Republic Services (NYSE:RSG) Upgraded to Strong-Buy at Seaport Res Ptn

Republic Services (NYSE:RSG - Get Free Report) was upgraded by research analysts at Seaport Res Ptn to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Robert W. Baird boosted their target price 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. William Blair restated an "outperform" rating on shares of Republic Services in a research report on Friday, April 25th. Citigroup raised their price target on Republic Services from $265.00 to $278.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley boosted their target price on shares of Republic Services from $230.00 to $245.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Finally, Truist Financial upped their target price on Republic Services from $250.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Republic Services currently has an average rating of "Moderate Buy" and an average target price of $249.00.

Republic Services Trading Up 0.4 %

Shares of RSG stock opened at $251.94 on Tuesday. Republic Services has a 1-year low of $180.92 and a 1-year high of $252.94. The firm's 50-day simple moving average is $239.66 and its 200-day simple moving average is $221.93. The firm has a market cap of $78.73 billion, a P/E ratio of 38.82, a PEG ratio of 3.64 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. As a group, equities analysts forecast that Republic Services will post 6.86 EPS for the current year.

Insider Activity at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total transaction of $1,436,062.60. Following the completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

A number of hedge funds and other institutional investors have recently made changes to their positions in RSG. Golden State Wealth Management LLC increased its position in shares of Republic Services by 3,533.3% during the first quarter. Golden State Wealth Management LLC now owns 109 shares of the business services provider's stock valued at $26,000 after buying an additional 106 shares during the period. TCTC Holdings LLC lifted its stake in shares of Republic Services by 113.8% in the 1st quarter. TCTC Holdings LLC now owns 124 shares of the business services provider's stock valued at $30,000 after purchasing an additional 66 shares during the period. Key Financial Inc boosted 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 valued at $30,000 after purchasing an additional 99 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Republic Services by 200.0% during the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after buying an additional 88 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Republic Services in the fourth quarter worth about $32,000. Institutional investors 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.

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