Republic Services, Inc. (RSG) Raised to “Hold” at Zacks Investment Research
Republic Services, Inc. (NYSE:RSG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Republic Services reported strong third-quarter 2017 results, with healthy year-over-year increase in earnings and revenues. The company is currently focusing on a series of quality acquisition opportunities, primarily of recycling assets, which are likely to act as a catalyst for a healthy long-term growth within its top 25 markets. It is also transitioning to a fee-based recycling processing model to cover processing costs and generate a healthy ROI. Republic Services outperformed the industry year to date. However, commodity price headwinds remain a significant impediment to growth. Margin pressure also remains a bottleneck as Republic Services has more exposure to Collection services that generate the lowest margin, while protracted weakness in special waste and tight municipal budgets remain additional headwinds. In addition, increased competitive pressure remains a cause for concern.”
Other research analysts also recently issued reports about the company. Bank of America Corporation cut their price target on Republic Services from $72.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research report on Friday, August 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research report on Thursday, September 7th. Credit Suisse Group set a $69.00 price objective on shares of Republic Services and gave the company a “hold” rating in a research report on Saturday, July 29th. Finally, Stifel Nicolaus lowered shares of Republic Services from a “buy” rating to a “hold” rating and cut their target price for the company from $76.00 to $70.00 in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Republic Services has an average rating of “Hold” and a consensus target price of $68.29.
Republic Services (NYSE:RSG) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Republic Services had a net margin of 8.15% and a return on equity of 10.57%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis.
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In other news, insider Donald W. Slager sold 22,608 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $66.05, for a total transaction of $1,493,258.40. Following the completion of the transaction, the insider now directly owns 246,617 shares of the company’s stock, valued at approximately $16,289,052.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Catharine D. Ellingsen sold 14,250 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $66.02, for a total transaction of $940,785.00. Following the transaction, the executive vice president now directly owns 8,007 shares of the company’s stock, valued at $528,622.14. The disclosure for this sale can be found here. Insiders have sold a total of 43,187 shares of company stock worth $2,854,922 in the last 90 days. 0.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Evercore Wealth Management LLC raised its stake in shares of Republic Services by 48.6% in the second quarter. Evercore Wealth Management LLC now owns 1,593 shares of the business services provider’s stock worth $102,000 after acquiring an additional 521 shares during the last quarter. Sun Life Financial INC grew its holdings in Republic Services by 20,900.0% during the second quarter. Sun Life Financial INC now owns 1,680 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,672 shares during the period. Almanack Investment Partners LLC. acquired a new position in Republic Services during the second quarter valued at approximately $141,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Republic Services by 59.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 1,078 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in Republic Services during the second quarter valued at approximately $191,000. 60.65% of the stock is owned by institutional investors.
About Republic Services
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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