Republic Services (NYSE:RSG) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Tuesday, Briefing.com reports. The brokerage currently has a $102.00 target price on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.61% from the stock’s previous close.
A number of other equities research analysts also recently commented on RSG. Robert W. Baird downgraded shares of Republic Services from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $103.00 to $96.00 in a research report on Tuesday, February 16th. Raymond James lifted their target price on shares of Republic Services from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Argus lifted their target price on shares of Republic Services from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 18th. Zacks Investment Research downgraded shares of Republic Services from a “hold” rating to a “sell” rating and set a $101.00 target price for the company. in a research report on Wednesday, January 13th. Finally, Morgan Stanley lifted their target price on shares of Republic Services from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.31.
Shares of NYSE RSG opened at $89.00 on Tuesday. Republic Services has a twelve month low of $65.37 and a twelve month high of $103.79. The firm has a market cap of $28.37 billion, a P/E ratio of 27.90, a PEG ratio of 2.77 and a beta of 0.64. The company has a 50 day moving average of $92.84 and a 200 day moving average of $93.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.
Republic Services announced that its Board of Directors has approved a stock repurchase program on Thursday, November 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Republic Services news, CEO Donald W. Slager sold 43,199 shares of the business’s stock in a transaction on Friday, December 11th. The shares were sold at an average price of $94.85, for a total value of $4,097,425.15. Following the sale, the chief executive officer now owns 299,080 shares in the company, valued at approximately $28,367,738. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Atlas Private Wealth Management purchased a new stake in shares of Republic Services during the 3rd quarter valued at about $32,000. ADE LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at about $33,000. Arkadios Wealth Advisors raised its position in shares of Republic Services by 153.5% during the 4th quarter. Arkadios Wealth Advisors now owns 365 shares of the business services provider’s stock valued at $35,000 after buying an additional 221 shares in the last quarter. Clearview Wealth Advisors LLC purchased a new stake in shares of Republic Services during the 4th quarter valued at about $36,000. Finally, Advisory Services Network LLC raised its position in shares of Republic Services by 82.7% during the 4th quarter. Advisory Services Network LLC now owns 506 shares of the business services provider’s stock valued at $49,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 56.78% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services in the United States. The company serves small-container, large-container, and municipal and residential customers. The company's collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors.
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