Republic Services (NYSE:RSG) Rating Increased to Hold at Melius Research

Republic Services (NYSE:RSG) was upgraded by Melius Research to a “hold” rating in a research note issued on Monday, MarketBeat reports. The firm currently has a $281.00 price objective on the business services provider’s stock. Melius Research’s price objective would suggest a potential upside of 13.32% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Republic Services in a report on Friday, April 25th. Melius started coverage on shares of Republic Services in a research note on Monday. They issued a “hold” rating on the stock. Seaport Res Ptn raised shares of Republic Services to a “strong-buy” rating in a research note on Tuesday, May 6th. Truist Financial lifted their price target on shares of Republic Services from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $280.00 target price (up previously from $268.00) on shares of Republic Services in a research note on Monday. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.68.

Republic Services Price Performance

NYSE:RSG opened at $247.98 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.58 and a quick ratio of 0.64. The firm has a market cap of $77.49 billion, a price-to-earnings ratio of 38.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.63. The company has a 50 day moving average price of $246.41 and a 200-day moving average price of $229.37. Republic Services has a 1-year low of $185.07 and a 1-year high of $258.75.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RSG. Golden State Wealth Management LLC boosted its position in shares of 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 valued at $26,000 after acquiring an additional 106 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in Republic Services by 200.0% in the fourth 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 during the last quarter. Key Financial Inc lifted its position in Republic Services by 380.8% in the first quarter. Key Financial Inc now owns 125 shares of the business services provider’s stock valued at $30,000 after buying an additional 99 shares during the last quarter. TCTC Holdings LLC lifted its position in Republic Services by 113.8% in the first quarter. TCTC Holdings LLC now owns 124 shares of the business services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in Republic Services in the first quarter valued at about $30,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

Republic Services Company Profile

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.