Republic Services (NYSE:RSG) Upgraded at Argus

Republic Services (NYSE:RSG) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a $275.00 price objective on the business services provider’s stock. Argus‘s price target points to a potential upside of 10.37% from the company’s current price.

A number of other brokerages also recently issued reports on RSG. UBS Group lifted their price target on Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Robert W. Baird raised their target price on Republic Services from $242.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Wells Fargo & Company boosted their target price on Republic Services from $234.00 to $270.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Royal Bank Of Canada upped their price target on Republic Services from $272.00 to $277.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Finally, Raymond James Financial set a $235.00 price target on shares of Republic Services in a research note on Friday, October 9th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.10.

Republic Services Stock Up 0.6%

Shares of NYSE:RSG opened at $249.15 on Thursday. Republic Services has a fifty-two week low of $196.41 and a fifty-two week high of $254.39. The firm’s 50 day moving average price is $226.47 and its 200 day moving average price is $218.17. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.14. The stock has a market cap of $75.90 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 4.11 and a beta of 0.32.

Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Republic Services will post 7.27 earnings per share for the current fiscal year.

Insider Transactions at Republic Services

In other news, major shareholder Cascade Investment, L.L.C. purchased 324,810 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average price of $222.89 per share, for a total transaction of $72,396,900.90. Following the purchase, the insider directly owned 117,058,444 shares of the company’s stock, valued at $26,091,156,583.16. This represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Bales sold 3,400 shares of Republic Services stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $244.00, for a total value of $829,600.00. Following the transaction, the executive vice president directly owned 17,616 shares in the company, valued at approximately $4,298,304. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 5,389,838 shares of company stock valued at $1,193,847,528. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Republic Services

A number of institutional investors have recently modified their holdings of RSG. Bell Investment Advisors Inc purchased a new stake in Republic Services in the 2nd quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new position in Republic Services in the third quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Republic Services in the second quarter valued at $27,000. Compass Financial Management LLC purchased a new stake in shares of Republic Services in the second quarter valued at about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Republic Services by 47.3% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 162 shares of the business services provider’s stock worth $35,000 after buying an additional 52 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

About Republic Services

Republic Services, Inc. provides waste collection, recycling and environmental services to residential, commercial, industrial and municipal customers across the United States. Its services include collecting and transporting waste, operating transfer stations and landfills, and processing recyclable materials. The company also provides environmental solutions, including services for the management and disposal of hazardous and other specialized waste. Republic Services traces its origins to the 1990s and expanded its operations through the 2008 combination with Allied Waste Industries.