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

Republic Services (NYSE:RSG) had its target price increased by analysts at Scotiabank from $233.00 to $250.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s price target would suggest a potential upside of 4.64% from the company’s previous close.

A number of other brokerages have also commented on RSG. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Argus set a $260.00 price target on Republic Services in a research note on Tuesday, February 18th. Morgan Stanley raised their price target on Republic Services from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group raised their price target on Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group raised their price target on Republic Services from $235.00 to $244.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $238.50.

Republic Services Trading Up 5.2 %

NYSE:RSG opened at $238.92 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. Republic Services has a 1-year low of $180.92 and a 1-year high of $249.73. The firm has a market capitalization of $74.61 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62. The stock has a fifty day simple moving average of $232.38 and a 200 day simple moving average of $216.14.

Republic Services (NYSE:RSG) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping 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 firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company posted $1.41 EPS. Sell-side analysts forecast that Republic Services will post 6.86 earnings per share for the current year.

Insiders Place Their Bets

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares of the company’s stock, valued at $2,376,931.20. The trade was a 37.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Republic Services

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Republic Services by 37.5% during 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 purchasing an additional 4,827 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Republic Services by 13.0% during the 3rd quarter. TCW Group Inc. now owns 114,582 shares of the business services provider’s stock worth $23,013,000 after purchasing an additional 13,138 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of Republic Services by 65.1% during the 4th quarter. DnB Asset Management AS now owns 72,931 shares of the business services provider’s stock worth $14,672,000 after purchasing an additional 28,764 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Republic Services during the 4th quarter worth approximately $4,430,000. Finally, Czech National Bank grew its holdings in shares of Republic Services by 6.1% during 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 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.