Republic Services (NYSE:RSG) Stock Rating Upgraded by CIBC

Republic Services (NYSE:RSG) was upgraded by CIBC from a “neutral” rating to a “sector outperform” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $264.00 price objective on the business services provider’s stock. CIBC’s target price would indicate a potential upside of 12.03% from the company’s current price.

RSG has been the subject of a number of other reports. BMO Capital Markets upgraded shares of Republic Services from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $211.00 to $238.00 in a research report on Friday, December 6th. William Blair reiterated an “outperform” rating on shares of Republic Services in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on Republic Services from $240.00 to $257.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. The Goldman Sachs Group upped their target price on Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, UBS Group lifted their price target on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $236.88.

Republic Services Price Performance

Republic Services stock opened at $235.66 on Tuesday. The business has a 50-day simple moving average of $217.74 and a 200 day simple moving average of $210.45. Republic Services has a 52 week low of $180.91 and a 52 week high of $240.95. The stock has a market cap of $73.59 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.64 and a beta of 0.74. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business earned $1.41 earnings per share. On average, research analysts forecast that Republic Services will post 6.86 earnings per share for the current fiscal year.

Insider Activity at Republic Services

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

Institutional Investors Weigh In On Republic Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock worth $3,586,000 after buying an additional 4,827 shares during the period. TCW Group Inc. lifted its stake in shares of Republic Services by 13.0% in the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock valued at $23,013,000 after purchasing an additional 13,138 shares during the period. Avanza Fonder AB bought a new stake in shares of Republic Services during the fourth quarter valued at approximately $4,430,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Republic Services in the third quarter worth $6,102,000. Finally, Lifeworks Advisors LLC raised its holdings in Republic Services by 1,112.3% in the third quarter. Lifeworks Advisors LLC now owns 21,469 shares of the business services provider’s stock worth $4,312,000 after purchasing an additional 19,698 shares in the last quarter. 57.73% of the stock is owned by hedge funds and other 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.