Truist Financial Forecasts Strong Price Appreciation for Republic Services (NYSE:RSG) Stock

Republic Services (NYSE:RSG - Get Free Report) had its price target lifted by equities research analysts at Truist Financial from $250.00 to $270.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Truist Financial's price target points to a potential upside of 12.35% from the stock's current price.

RSG has been the subject of several other research reports. Jefferies Financial Group lifted their price objective on shares of Republic Services from $235.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. CIBC upgraded Republic Services from a "neutral" rating to a "sector outperform" rating and set a $264.00 price target for the company in a research note on Tuesday, March 4th. Scotiabank boosted their target price on Republic Services from $233.00 to $250.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 8th. Argus set a $260.00 price target on Republic Services in a report on Tuesday, February 18th. Finally, Morgan Stanley upped their price objective on shares of Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.44.

Republic Services Stock Down 0.2 %

Shares of NYSE:RSG traded down $0.44 during midday trading on Tuesday, hitting $240.33. 570,173 shares of the stock were exchanged, compared to its average volume of 1,223,213. The company has a market capitalization of $75.05 billion, a PE ratio of 37.04, a P/E/G ratio of 3.64 and a beta of 0.62. Republic Services has a 52-week low of $180.91 and a 52-week high of $249.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.64 and a current ratio of 0.58. The business's fifty day simple moving average is $236.55 and its two-hundred day simple moving average is $219.17.

Republic Services (NYSE:RSG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.03. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. As a group, research analysts predict that Republic Services will post 6.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Gregg Brummer sold 6,293 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 10,416 shares of the company's stock, valued at approximately $2,376,931.20. This trade represents a 37.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Republic Services by 37.5% in the 4th 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 in the last quarter. DnB Asset Management AS raised its stake in Republic Services by 65.1% during the fourth quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider's stock worth $14,672,000 after acquiring an additional 28,764 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Republic Services during the fourth quarter valued at $4,430,000. Czech National Bank grew its holdings in shares of Republic Services by 6.1% in the 4th quarter. Czech National Bank now owns 44,134 shares of the business services provider's stock worth $8,879,000 after purchasing an additional 2,548 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new stake in shares of Republic Services during the 4th quarter worth about $790,000. 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.