Republic Services (NYSE:RSG) Upgraded by CIBC to "Sector Outperform" Rating

Republic Services (NYSE:RSG - Get Free Report) was upgraded by equities research analysts at CIBC from a "neutral" rating to a "sector outperform" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $264.00 price objective on the business services provider's stock. CIBC's price objective points to a potential upside of 12.03% from the stock's previous close.

A number of other brokerages have also issued reports on RSG. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a "hold" rating to a "buy" rating and boosted their price target for the stock from $219.00 to $237.00 in a research report on Tuesday, December 10th. Morgan Stanley boosted their price target on Republic Services from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Stifel Nicolaus boosted their price target on Republic Services from $240.00 to $257.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Truist Financial restated a "buy" rating and issued a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Finally, Argus set a $260.00 price objective on Republic Services in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $236.88.

Republic Services Stock Down 0.1 %

RSG stock traded down $0.29 during midday trading on Tuesday, hitting $235.66. 1,367,735 shares of the company's stock were exchanged, compared to its average volume of 1,051,725. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. Republic Services has a 12-month low of $180.91 and a 12-month high of $240.95. The firm has a 50 day moving average price of $217.11 and a 200-day moving average price of $210.28. The stock has a market capitalization of $73.59 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.41 EPS. On average, analysts anticipate that Republic Services will post 6.86 EPS for the current year.

Insider Transactions at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $215.27, for a total transaction of $400,186.93. Following the completion of the sale, the director now owns 879 shares in the company, valued at $189,222.33. This represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Gregg Brummer sold 6,293 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now 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 disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Republic Services

Several hedge funds have recently added to or reduced their stakes in RSG. FSA Wealth Management LLC acquired a new position in Republic Services in the 3rd quarter valued at approximately $25,000. Arcadia Investment Management Corp MI raised its holdings in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider's stock valued at $27,000 after acquiring an additional 88 shares in the last quarter. R Squared Ltd acquired a new position in Republic Services in the 4th quarter valued at approximately $32,000. Truvestments Capital LLC acquired a new position in Republic Services in the 3rd quarter valued at approximately $34,000. Finally, New Age Alpha Advisors LLC raised its holdings in 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 valued at $36,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 57.73% of the company's stock.

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.