Morgan Stanley Boosts Republic Services (NYSE:RSG) Price Target to $220.00

Republic Services (NYSE:RSG) had its price objective lifted by analysts at Morgan Stanley from $217.00 to $220.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 5.28% from the stock’s current price.

RSG has been the subject of several other research reports. Scotiabank assumed coverage on shares of Republic Services in a report on Friday, October 4th. They set a “sector perform” rating and a $224.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and raised their price objective for the company from $219.00 to $237.00 in a report on Tuesday. CIBC upped their target price on Republic Services from $217.00 to $227.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Oppenheimer raised their price target on Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.06.

Republic Services Price Performance

Shares of NYSE RSG opened at $208.97 on Thursday. The company has a fifty day moving average price of $208.53 and a 200 day moving average price of $201.71. Republic Services has a 1-year low of $160.65 and a 1-year high of $220.58. The firm has a market cap of $65.44 billion, a PE ratio of 33.44, a PEG ratio of 3.21 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.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned $1.54 earnings per share. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts predict that Republic Services will post 6.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Katharine Weymouth sold 1,859 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $215.27, for a total value of $400,186.93. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $189,222.33. This represents a 67.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian M. Delghiaccio sold 5,071 shares of Republic Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total transaction of $1,065,011.42. Following the completion of the sale, the chief financial officer now owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Services

A number of large investors have recently added to or reduced their stakes in the stock. Simmons Bank lifted its position in shares of Republic Services by 2.8% during the 3rd quarter. Simmons Bank now owns 1,895 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 51 shares during the period. Hantz Financial Services Inc. lifted its position in Republic Services by 1.0% during the third quarter. Hantz Financial Services Inc. now owns 5,099 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 52 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in Republic Services by 2.9% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,860 shares of the business services provider’s stock worth $362,000 after buying an additional 53 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Republic Services by 16.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 382 shares of the business services provider’s stock valued at $77,000 after buying an additional 54 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in shares of Republic Services by 3.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,520 shares of the business services provider’s stock valued at $310,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds 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.