Market Runner: What’s Propelling Republic Services, Inc. to Reach Record High?

Market Runner: What's Propelling Republic Services, Inc. to Reach Record High?

The stock of Republic Services, Inc. (NYSE:RSG) reached all time high today, Nov, 11 and still has $80.07 target or 50.00% above today’s $53.38 share price. This indicates more upside for the $18.20B company. This technical setup was reported by Barchart.com. If the $80.07 PT is reached, the company will be worth $9.10 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 124,980 shares traded hands. Republic Services, Inc. (NYSE:RSG) has risen 15.25% since April 11, 2016 and is uptrending. It has outperformed by 9.11% the S&P500.

Republic Services, Inc. (NYSE:RSG) Ratings Coverage

Out of 9 analysts covering Republic Services (NYSE:RSG), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. $56 is the highest target while $44 is the lowest. The $52.20 average target is -2.21% below today’s ($53.38) stock price. Republic Services has been the topic of 14 analyst reports since August 19, 2015 according to StockzIntelligence Inc. On Thursday, December 17 the stock rating was initiated by JP Morgan with “Overweight”. Macquarie Research initiated the shares of RSG in a report on Friday, August 26 with “Neutral” rating. The stock of Republic Services, Inc. (NYSE:RSG) has “Outperform” rating given on Monday, November 2 by Imperial Capital. The rating was initiated by Barclays Capital with “Equal-Weight” on Thursday, October 22. The firm has “Buy” rating by Bank of America given on Sunday, November 8. On Friday, November 6 the stock rating was initiated by Bank of America with “Buy”. The rating was initiated by Argus Research with “Hold” on Wednesday, May 18. Barclays Capital maintained it with “Overweight” rating and $56 target price in Tuesday, August 9 report. Credit Suisse initiated Republic Services, Inc. (NYSE:RSG) on Friday, November 6 with “Neutral” rating. The stock of Republic Services, Inc. (NYSE:RSG) has “Overweight” rating given on Tuesday, May 3 by Barclays Capital.

According to Zacks Investment Research, “Republic Services, Inc., is a leading provider of services in the domestic non-hazardous solid waste industry. They provide non-hazardous solid waste collection services for commercial, industrial, municipal and residential customers through their collection companies. They also own or operate transfer stations and solid waste landfills.”

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.13, from 1.11 in 2016Q1. The ratio is positive, as 34 funds sold all Republic Services, Inc. shares owned while 160 reduced positions. 47 funds bought stakes while 194 increased positions. They now own 202.99 million shares or 4.81% less from 213.26 million shares in 2016Q1.
Dearborn Prns Ltd Co accumulated 1.76% or 394,789 shares. The Delaware-based Dupont Capital Mgmt Corporation has invested 0.02% in Republic Services, Inc. (NYSE:RSG). Element Capital Mgmt Limited Com, a New York-based fund reported 28,554 shares. Moreover, Mizuho Tru Bk Commerce Limited has 0.06% invested in Republic Services, Inc. (NYSE:RSG) for 376,879 shares. Mizuho Asset Management Coltd accumulated 3,005 shares or 0.03% of the stock. Gemmer Asset Mgmt Ltd Liability Corp accumulated 189 shares or 0.01% of the stock. The Connecticut-based Westport Asset Mgmt has invested 0.19% in Republic Services, Inc. (NYSE:RSG). Shinko Asset Management Company last reported 618 shares in the company. The Michigan-based World Asset has invested 0.05% in Republic Services, Inc. (NYSE:RSG). Private Asset Mgmt accumulated 14,200 shares or 0.13% of the stock. Kornitzer Cap Inc Ks, a Kansas-based fund reported 443,560 shares. Robecosam Ag, a Switzerland-based fund reported 395,879 shares. Citadel Advsrs Ltd Llc last reported 0.02% of its portfolio in the stock. Invesco Limited reported 4.92 million shares or 0.09% of all its holdings. Consulate has invested 0.24% of its portfolio in Republic Services, Inc. (NYSE:RSG).

Insider Transactions: Since May 13, 2016, the stock had 0 insider buys, and 5 insider sales for $13.20 million net activity. $5.15 million worth of shares were sold by SLAGER DONALD W on Friday, May 13. The insider GOEBEL BRIAN A sold 1,695 shares worth $88,310. $3.05M worth of Republic Services, Inc. (NYSE:RSG) was sold by Rissman Michael P.

More recent Republic Services, Inc. (NYSE:RSG) news were published by: Fool.com which released: “Republic Services, Inc. Continues Its Slow and Steady Pace” on October 28, 2016. Also Prnewswire.com published the news titled: “Republic Services Named to Prestigious CDP Climate A List” on November 10, 2016. Marketwatch.com‘s news article titled: “Republic Services debt extinguishment hurt profit” with publication date: October 27, 2016 was also an interesting one.

RSG Company Profile

Republic Services, Inc., incorporated on December 20, 1996, is a well-known provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services in the United States. The Firm operates through three divisions: East, Central and West. The Firm operates in over 40 states and Puerto Rico through approximately 340 collection operations, over 200 transfer stations, over 190 active landfills, approximately 70 recycling centers, approximately 10 treatment, recovery and disposal facilities, and over 10 salt water disposal wells. It also operates approximately 70 landfill gas and renewable energy projects. It has post-closure responsibility for approximately 130 closed landfills.

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