Citigroup Cuts Republic Services (NYSE:RSG) Price Target to $244.00

Republic Services (NYSE:RSG) had its price target lowered by equities research analysts at Citigroup from $268.00 to $244.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Citigroup’s price objective indicates a potential upside of 15.76% from the stock’s previous close.

Several other research analysts also recently weighed in on RSG. The Goldman Sachs Group initiated coverage on Republic Services in a research note on Monday, November 24th. They issued a “buy” rating and a $255.00 price target for the company. Robert W. Baird set a $240.00 target price on shares of Republic Services in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Republic Services in a research note on Monday, December 29th. UBS Group set a $220.00 price objective on Republic Services in a research report on Monday, January 5th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $240.00 target price on shares of Republic Services in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus target price of $249.23.

Republic Services Price Performance

Shares of NYSE RSG traded down $0.01 during midday trading on Friday, reaching $210.79. The stock had a trading volume of 553,667 shares, compared to its average volume of 1,296,749. The company has a market capitalization of $65.25 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 3.45 and a beta of 0.55. Republic Services has a 12-month low of $201.42 and a 12-month high of $258.75. The stock has a 50-day moving average of $212.50 and a 200-day moving average of $224.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.58.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Friday, October 31st. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.12. Republic Services had a return on equity of 18.24% and a net margin of 12.77%.The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Republic Services’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Republic Services will post 6.86 EPS for the current fiscal year.

Insider Activity at Republic Services

In related news, Director Katharine Weymouth bought 478 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $209.46 per share, for a total transaction of $100,121.88. Following the acquisition, the director owned 5,740 shares in the company, valued at $1,202,300.40. This trade represents a 9.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bowen Hanes & Co. Inc. grew its stake in shares of Republic Services by 7.3% during the second quarter. Bowen Hanes & Co. Inc. now owns 254,540 shares of the business services provider’s stock worth $62,772,000 after acquiring an additional 17,280 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Republic Services by 32.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 23,211 shares of the business services provider’s stock worth $5,326,000 after purchasing an additional 5,740 shares in the last quarter. Farther Finance Advisors LLC grew its position in Republic Services by 60.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 12,665 shares of the business services provider’s stock worth $2,906,000 after purchasing an additional 4,750 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Republic Services during the 2nd quarter valued at approximately $1,880,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Republic Services by 148,250.0% in the third quarter. Valley National Advisers Inc. now owns 8,901 shares of the business services provider’s stock worth $2,042,000 after buying an additional 8,895 shares during the last quarter. 57.73% of the stock is owned by hedge funds and other institutional investors.

Republic Services Company Profile

Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.

Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.