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

Republic Services (NYSE:RSG) had its price objective raised by analysts at Morgan Stanley from $217.00 to $220.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 4.72% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Truist Financial boosted their target price on shares of Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Republic Services from $211.00 to $219.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Republic Services from a “hold” rating to a “buy” rating and boosted their price objective for the company from $219.00 to $237.00 in a research report on Tuesday. Scotiabank assumed coverage on shares of 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. Finally, BMO Capital Markets raised shares of Republic Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $211.00 to $238.00 in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.06.

Republic Services Stock Down 0.1 %

Shares of NYSE:RSG traded down $0.26 during midday trading on Thursday, hitting $210.09. 124,545 shares of the company’s stock traded hands, compared to its average volume of 1,108,252. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $65.79 billion, a PE ratio of 33.61, a P/E/G ratio of 3.31 and a beta of 0.71. The firm’s fifty day moving average price is $208.20 and its two-hundred day moving average price is $201.50. Republic Services has a twelve month low of $160.65 and a twelve month high of $220.58.

Republic Services (NYSE:RSG) last posted 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 net margin of 12.46% and a return on equity of 18.18%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the business posted $1.54 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Republic Services will post 6.24 EPS for the current fiscal year.

Insider Buying and Selling at Republic Services

In related news, Director Katharine Weymouth sold 1,859 shares of the stock in a transaction dated Thursday, December 5th. The shares were 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 trade represents a 67.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian M. Delghiaccio sold 5,071 shares of the 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 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. Insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Republic Services

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