CIBC Issues Positive Forecast for Republic Services (NYSE:RSG) Stock Price

Republic Services (NYSE:RSG) had its price target hoisted by analysts at CIBC from $217.00 to $227.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s target price would indicate a potential upside of 5.32% from the company’s previous close.

A number of other equities analysts also recently commented on RSG. Scotiabank initiated coverage on Republic Services in a research report on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective for the company. Oppenheimer boosted their price objective on Republic Services from $219.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on Republic Services in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. Truist Financial upped their price target on Republic Services from $220.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and a consensus price target of $216.29.

Republic Services Stock Up 0.3 %

Shares of RSG opened at $215.53 on Wednesday. The firm has a market cap of $67.49 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 3.28 and a beta of 0.71. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $206.91 and its 200 day moving average price is $200.56. Republic Services has a 12-month low of $160.38 and a 12-month high of $220.58.

Republic Services (NYSE:RSG) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.54 EPS. Republic Services’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Republic Services will post 6.24 earnings per share for the current year.

Insider Transactions at Republic Services

In related news, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares in the company, valued at $1,326,906.36. The trade was a 44.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in Republic Services in the 3rd quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased its holdings in Republic Services by 351.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 140 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 109 shares in the last quarter. Webster Bank N. A. acquired a new stake in Republic Services during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of Republic Services in the 3rd quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Republic Services in the 2nd quarter worth $36,000. Hedge funds and other institutional investors 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.