The Goldman Sachs Group Begins Coverage on Republic Services (NYSE:RSG)

Analysts at The Goldman Sachs Group initiated coverage on shares of Republic Services (NYSE:RSG) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $255.00 price target on the business services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 16.47% from the stock’s previous close.

RSG has been the subject of a number of other reports. Barclays initiated coverage on Republic Services in a report on Friday, September 19th. They issued an “equal weight” rating and a $240.00 price objective for the company. Scotiabank cut their target price on Republic Services from $250.00 to $246.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. UBS Group decreased their price target on shares of Republic Services from $260.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Citigroup cut their price objective on shares of Republic Services from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Republic Services from $260.00 to $233.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.45.

Republic Services Price Performance

RSG stock traded up $1.86 during midday trading on Monday, reaching $218.95. The company had a trading volume of 87,160 shares, compared to its average volume of 1,303,097. The firm has a 50-day moving average price of $218.46 and a 200-day moving average price of $233.28. The company has a market capitalization of $67.78 billion, a P/E ratio of 32.36, a P/E/G ratio of 3.40 and a beta of 0.57. Republic Services has a 1 year low of $199.43 and a 1 year high of $258.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.66 and a quick ratio of 0.66.

Republic Services (NYSE:RSG) last posted its quarterly earnings data on Friday, October 31st. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.12. Republic Services had a net margin of 12.97% and a return on equity of 18.27%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter last year, the company posted $1.81 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Republic Services will post 6.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Republic Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Consulate Inc. bought a new stake in shares of Republic Services in the third quarter worth about $25,000. Wealth Watch Advisors INC purchased a new stake in Republic Services in the 3rd quarter worth approximately $26,000. Cranbrook Wealth Management LLC grew its position in shares of Republic Services by 1,222.2% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 119 shares of the business services provider’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Republic Services by 121.8% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122 shares of the business services provider’s stock valued at $28,000 after buying an additional 67 shares during the period. Finally, NewSquare Capital LLC raised its holdings in shares of Republic Services by 68.5% during the second quarter. NewSquare Capital LLC now owns 123 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. 57.73% of the stock is owned by institutional investors.

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.