Republic Services (NYSE: RSG) has been downgraded from Zacks investment research from a âbuyâ note to a âkeepâ note in a report published on Wednesday, Zacks.com reports. They currently have a price target of $ 128.00 on shares of the business service provider. Zacks investment researchThe price target for s indicates a potential rise of 4.62% from the share’s previous close.
According to Zacks, âRepublic Services stocks have outperformed their industry over the past year, in part due to higher earnings in the past four quarters and higher expectations. The company is focused on increasing its operational efficiency by switching to compressed natural gas collection vehicles and converting rear-loading trucks to automated side loaders to reduce costs. The company continues to grow internally through long-term contracts for the collection, recycling and disposal of solid waste. The regularity of dividend payments and share buybacks boosts investor confidence and a positive impact on earnings per share. However, operating the company in a highly competitive solid waste industry is a concern. High leverage can limit the company’s future expansion and worsen its risk profile. Seasoanlity continues to act as a major obstacle. “
A number of other analysts have also recently commented on the headline. Morgan Stanley raised its target price on Republic Services shares from $ 126.00 to $ 134.00 and rated the stock “overweight” in a report released on Friday, July 30. Royal Bank of Canada increased its target price on Republic Services shares from $ 111.00 to $ 118.00 and assigned a rating of “sector performance” to the stock in a report released on Friday, July 30. They noted that the move was an appraisal call. Raymond James reiterated an “outperformance” rating and issued a price target of $ 116.14 (vs. $ 117.00) on Republic Services shares in a report released on Monday, July 26. Oppenheimer raised its target price on Republic Services shares from $ 117.00 to $ 121.00 and rated the stock as “outperforming” in a report released on Friday, July 16. Finally, the Goldman Sachs group upgraded Republic Services shares from a âbuyâ rating to a âcondemnation-buyâ rating in a report published on Tuesday, August 24. Four analysts gave the stock a conservation rating, seven issued a buy rating and one issued a strong buy rating for the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $ 116.18.
Republic Services stock traded up $ 1.48 at noon on Wednesday, reaching $ 122.35. 16,047 shares of the stock were traded for an average volume of 1,158,377. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt ratio of 1.01. The company has a fifty-day moving average price of $ 121.38 and a two-hundred-day moving average price of $ 112.00. The company has a market cap of $ 38.95 billion, a price / earnings ratio of 34.86, a PEG ratio of 2.88 and a beta of 0.71. Republic Services has a minimum of $ 86.18 over 52 weeks and a maximum of $ 126.25 over 52 weeks.
Republic Services (NYSE: RSG) last released its quarterly results on Thursday, July 29. The business services provider reported earnings per share of $ 1.09 for the quarter, beating analyst consensus estimates of $ 0.94 from $ 0.15. The company posted revenue of $ 2.81 billion in the quarter, compared to analysts’ estimates of $ 2.72 billion. Republic Services had a net margin of 10.64% and a return on equity of 15.01%. Analysts expect Republic Services to post earnings per share of 4.06 for the current year.
Meanwhile, CFO Brian M. Delghiaccio sold 2,074 shares of the company in a trade on Wednesday, July 7. The shares were sold at an average price of $ 114.00, for a total trade of $ 236,436.00. Following the completion of the transaction, the CFO now directly owns 3,379 shares of the company, valued at approximately $ 385,206. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the shares are currently held by company insiders.
Several hedge funds have recently changed their positions in RSG. Ameritas Investment Company LLC acquired a new position in Republic Services shares in the 1st quarter valued at $ 26,000. Strategic Blueprint LLC acquired a new stake in the shares of Republic Services during the 2nd quarter valued at approximately $ 28,000. McIlrath & Eck LLC increased its position in Republic Services shares by 61.4% in the first quarter. McIlrath & Eck LLC now owns 305 shares of the business service provider valued at $ 30,000 after purchasing 116 additional shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Republic Services shares during the 1st quarter valued at approximately $ 37,000. Finally, CSat Investment Advisory LP strengthened its position in Republic Services equities by 37.0% during the first quarter. CSat Investment Advisory LP now owns 422 shares of the business service provider valued at $ 42,000 after purchasing 114 additional shares in the last quarter. Institutional investors hold 57.60% of the shares of the company.
About the services of the Republic
Republic Services, Inc. is committed to providing services to the domestic non-hazardous solid waste industry. It provides integrated waste management services, which provide non-hazardous solid waste collection, transfer, recycling, disposal and energy services. The company operates through the following segments: Group 1, Group 2 and Corporate Entities and others.
Further Reading: Backdoor Roth IRA Conversion and Strategy
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Republic Services now?
Before you consider Republic Services, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold ofâ¦ and Republic Services was not on the list.
While Republic Services currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here