CIBC Boosts Republic Services (NYSE:RSG) Price Target to $227.00

Republic Services (NYSE:RSG) had its target price hoisted by CIBC from $217.00 to $227.00 in a research note issued to investors on Wednesday,Benzinga reports. CIBC currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also issued reports on RSG. Oppenheimer upped their target price on shares of Republic Services from $219.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Republic Services in a research note on Friday, October 4th. They set a “sector perform” rating and a $224.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Republic Services from $211.00 to $219.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on Republic Services from $220.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on Republic Services from $208.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.88.

Republic Services Stock Up 0.6 %

RSG stock opened at $216.70 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50 day simple moving average is $207.21 and its 200-day simple moving average is $200.67. Republic Services has a 12 month low of $160.41 and a 12 month high of $220.58. The firm has a market capitalization of $67.86 billion, a PE ratio of 34.67, a P/E/G ratio of 3.28 and a beta of 0.71.

Republic Services (NYSE:RSG) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.20. Republic Services had a return on equity of 18.18% and a net margin of 12.46%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. Republic Services’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts expect that Republic Services will post 6.24 earnings per share for the current fiscal year.

Republic Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.58 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.32 annualized dividend and a yield of 1.07%. Republic Services’s payout ratio is 37.12%.

Insiders Place Their Bets

In other Republic Services news, CFO Brian M. Delghiaccio sold 5,071 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.02, for a total value of $1,065,011.42. Following the transaction, the chief financial officer now directly owns 6,318 shares of the company’s stock, valued at $1,326,906.36. This trade represents a 44.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Services

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