Robert W. Baird Forecasts Strong Price Appreciation for Republic Services (NYSE:RSG) Stock

Republic Services (NYSE:RSG) had its price target hoisted by equities researchers at Robert W. Baird from $232.00 to $245.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price objective points to a potential upside of 0.43% from the stock’s previous close.

Several other brokerages have also recently issued reports on RSG. The Goldman Sachs Group lifted their target price on shares of Republic Services from $239.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets boosted their price target on shares of Republic Services from $260.00 to $268.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank increased their price objective on shares of Republic Services from $233.00 to $250.00 and gave the company a “sector perform” rating in a report on Tuesday, April 8th. Raymond James restated an “outperform” rating on shares of Republic Services in a research report on Wednesday, April 16th. Finally, Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.38.

Republic Services Stock Up 1.3 %

Shares of NYSE RSG opened at $243.96 on Friday. Republic Services has a 52-week low of $180.92 and a 52-week high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $236.86 and its 200-day simple moving average is $219.56. The firm has a market cap of $76.23 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 3.64 and a beta of 0.62.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.55 by $0.03. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.08 billion. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. Equities analysts predict that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Buying and Selling at Republic Services

In other news, COO Gregg Brummer sold 6,293 shares of Republic Services stock in a transaction 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 completion of the sale, the chief operating officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Services

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Republic Services by 37.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,682 shares of the business services provider’s stock valued at $3,586,000 after purchasing an additional 4,827 shares in the last quarter. DnB Asset Management AS grew its stake in shares of Republic Services by 65.1% in 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 purchased a new stake in shares of Republic Services during the fourth quarter worth $4,430,000. Czech National Bank boosted its holdings in Republic Services by 6.1% in the fourth quarter. Czech National Bank now owns 44,134 shares of the business services provider’s stock valued at $8,879,000 after purchasing an additional 2,548 shares during the period. Finally, Hickory Point Bank & Trust acquired a new position in Republic Services during the 4th quarter worth $790,000. 57.73% of the stock is owned by institutional investors and hedge funds.

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.