Cibc World Mkts Upgrades Republic Services (NYSE:RSG) to Strong-Buy

Republic Services (NYSE:RSG) was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on RSG. Stifel Nicolaus increased their price target on Republic Services from $240.00 to $257.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada raised Republic Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $219.00 to $237.00 in a research report on Monday, January 6th. Morgan Stanley increased their price target on Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Argus set a $260.00 price objective on shares of Republic Services in a report on Tuesday, February 18th. Finally, Jefferies Financial Group raised their price target on shares of Republic Services from $235.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.88.

Republic Services Stock Performance

NYSE RSG opened at $235.66 on Tuesday. The firm’s fifty day moving average price is $217.74 and its two-hundred day moving average price is $210.45. Republic Services has a fifty-two week low of $180.91 and a fifty-two week high of $240.95. The stock has a market cap of $73.59 billion, a PE ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.21. The company had revenue of $4.05 billion for 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%. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, equities analysts expect that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the completion of the sale, the chief operating officer now directly owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new stake in shares of Republic Services in the 3rd quarter worth approximately $25,000. Arcadia Investment Management Corp MI lifted its holdings in Republic Services by 200.0% during the fourth quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock worth $27,000 after buying an additional 88 shares during the period. R Squared Ltd bought a new stake in Republic Services during the 4th quarter valued at $32,000. Truvestments Capital LLC purchased a new position in shares of Republic Services in the 3rd quarter valued at $34,000. Finally, New Age Alpha Advisors LLC raised its position in shares of Republic Services by 70.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock worth $36,000 after acquiring an additional 73 shares in the last quarter. 57.73% of the stock is currently owned by 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.