Republic Services (NYSE:RSG) Given New $217.00 Price Target at Morgan Stanley

Republic Services (NYSE:RSG) had its price objective increased by equities researchers at Morgan Stanley from $208.00 to $217.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 8.65% from the stock’s previous close.

Several other research firms have also weighed in on RSG. Raymond James dropped their price target on Republic Services from $219.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus upped their target price on Republic Services from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, July 25th. CIBC raised their price target on shares of Republic Services from $196.00 to $208.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Robert W. Baird increased their target price on shares of Republic Services from $208.00 to $210.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.71.

Republic Services Trading Down 2.2 %

RSG stock traded down $4.58 during mid-day trading on Wednesday, reaching $199.73. 618,711 shares of the stock traded hands, compared to its average volume of 1,124,538. The stock’s fifty day moving average is $203.91 and its 200-day moving average is $196.64. The company has a market cap of $62.73 billion, a P/E ratio of 33.62, a P/E/G ratio of 3.21 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05. Republic Services has a 52-week low of $146.82 and a 52-week high of $208.69.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.19. Republic Services had a net margin of 12.11% and a return on equity of 17.81%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Republic Services will post 6.18 earnings per share for the current year.

Insider Transactions at Republic Services

In related news, Director Tomago Collins sold 3,200 shares of Republic Services stock in a transaction on Friday, August 16th. The shares were sold at an average price of $203.01, for a total value of $649,632.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $3,549,832.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. RFG Advisory LLC raised its stake in Republic Services by 0.5% during the 2nd quarter. RFG Advisory LLC now owns 10,603 shares of the business services provider’s stock valued at $2,061,000 after purchasing an additional 53 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock valued at $362,000 after buying an additional 53 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Republic Services by 4.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,433 shares of the business services provider’s stock worth $278,000 after buying an additional 55 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Republic Services by 3.8% during the third quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after acquiring an additional 55 shares during the period. Finally, Tower Wealth Partners Inc. raised its holdings in Republic Services by 3.5% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,643 shares of the business services provider’s stock valued at $330,000 after acquiring an additional 56 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

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.