Scotiabank Cuts Republic Services (NYSE:RSG) Price Target to $242.00

Republic Services (NYSE:RSG) had its price target cut by Scotiabank from $246.00 to $242.00 in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a sector perform rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on the stock. Oppenheimer set a $256.00 price target on shares of Republic Services in a research report on Friday, October 31st. Sanford C. Bernstein upped their price target on Republic Services from $205.00 to $220.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Barclays reduced their price objective on Republic Services from $237.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday. Citigroup reduced their price objective on shares of Republic Services from $268.00 to $244.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Finally, UBS Group set a $220.00 price objective on shares of Republic Services in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.82.

Republic Services Stock Up 0.9%

Republic Services stock opened at $217.75 on Wednesday. Republic Services has a 52 week low of $201.42 and a 52 week high of $258.75. The stock has a market cap of $67.41 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.53 and a beta of 0.55. The company’s 50-day moving average price is $213.36 and its two-hundred day moving average price is $222.83. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.12. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. On average, analysts expect that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was bought at an average price of $209.46 per share, with a total value of $100,121.88. Following the purchase, the director directly owned 5,740 shares of the company’s stock, valued at approximately $1,202,300.40. This represents a 9.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

Institutional Trading of Republic Services

A number of institutional investors have recently bought and sold shares of RSG. Ignite Planners LLC raised its holdings in Republic Services by 2.8% in the 2nd quarter. Ignite Planners LLC now owns 1,562 shares of the business services provider’s stock worth $376,000 after acquiring an additional 43 shares during the period. L2 Asset Management LLC increased its stake in shares of Republic Services by 5.0% in the second quarter. L2 Asset Management LLC now owns 908 shares of the business services provider’s stock worth $224,000 after purchasing an additional 43 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Republic Services by 17.8% during the 2nd quarter. TD Private Client Wealth LLC now owns 305 shares of the business services provider’s stock worth $75,000 after purchasing an additional 46 shares during the last quarter. ANB Bank boosted its position in shares of Republic Services by 2.8% in the third quarter. ANB Bank now owns 1,691 shares of the business services provider’s stock valued at $388,000 after acquiring an additional 46 shares during the period. Finally, Gries Financial LLC increased its position in Republic Services by 3.8% during the second quarter. Gries Financial LLC now owns 1,249 shares of the business services provider’s stock worth $308,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.