Price Action Report: Could Republic Services, Inc. See a Reversal After Breaking Its 52-Week High?

Price Action Report: Could Republic Services, Inc. See a Reversal After Breaking Its 52 Week High?

The stock of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high and has $59.77 target or 7.00% above today’s $55.86 share price. The 9 months bullish chart indicates low risk for the $19.15B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $59.77 price target is reached, the company will be worth $1.34B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.46% or $0.26 on November 28, hitting $55.86. About 1.03M shares traded hands. Republic Services, Inc. (NYSE:RSG) has risen 21.57% since April 25, 2016 and is uptrending. It has outperformed by 15.56% the S&P500.

Analysts await Republic Services, Inc. (NYSE:RSG) to report earnings on February, 9. They expect $0.55 earnings per share, up 10.00% or $0.05 from last year’s $0.5 per share. RSG’s profit will be $188.55M for 25.39 P/E if the $0.55 EPS becomes a reality. After $0.62 actual earnings per share reported by Republic Services, Inc. for the previous quarter, Wall Street now forecasts -11.29% negative EPS growth.

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. Republic Services has been the topic of 14 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Credit Suisse initiated Republic Services, Inc. (NYSE:RSG) on Friday, November 6 with “Neutral” rating. The stock of Republic Services, Inc. (NYSE:RSG) has “Outperform” rating given on Monday, November 2 by Imperial Capital. Macquarie Research initiated the shares of RSG in a report on Friday, August 26 with “Neutral” rating. Bank of America initiated the stock with “Buy” rating in Sunday, November 8 report. Bank of America initiated Republic Services, Inc. (NYSE:RSG) on Friday, November 6 with “Buy” rating. The rating was upgraded by Barclays Capital to “Overweight” on Tuesday, May 3. The firm has “Buy” rating given on Thursday, August 27 by Zacks. On Wednesday, May 18 the stock rating was initiated by Argus Research with “Hold”. The rating was maintained by Barclays Capital on Tuesday, August 9 with “Overweight”. Barclays Capital initiated it with “Equal-Weight” rating and $44 target price in Thursday, October 22 report.

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 decreased to 0.95 in Q2 2016. Its down 0.29, from 1.24 in 2016Q1. The ratio is negative, 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.
The Pennsylvania-based Mount Lucas Management Limited Partnership has invested 0.54% in Republic Services, Inc. (NYSE:RSG). Perkins Invest Mgmt Limited Liability accumulated 490,495 shares or 0.38% of the stock. First L P last reported 574,732 shares in the company. Moreover, Deutsche Retail Bank Ag has 0.04% invested in Republic Services, Inc. (NYSE:RSG) for 1.22M shares. Argent Tru owns 7,253 shares or 0.12% of their US portfolio. Mariner Wealth Limited Liability accumulated 0.02% or 8,403 shares. Woodley Farra Manion Portfolio Management has 2.11% invested in the company for 265,964 shares. Legg Mason Asset Management (Japan) Communication Ltd last reported 8,700 shares in the company. Utah Retirement last reported 42,979 shares in the company. Inv Advisors owns 11,475 shares or 0.06% of their US portfolio. The New York-based Gamco Et Al has invested 0.99% in Republic Services, Inc. (NYSE:RSG). Cleararc Capital Inc accumulated 0.55% or 54,688 shares. The California-based Blackrock Fund Advsr has invested 0.08% in Republic Services, Inc. (NYSE:RSG). Paradigm Asset Mgmt Limited Liability Co accumulated 0% or 102,855 shares. M&R Cap Mngmt, a New York-based fund reported 1,000 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 5 insider sales for $13.20 million net activity. SLAGER DONALD W sold $8.56 million worth of stock. GOEBEL BRIAN A sold $192,155 worth of stock. On Friday, June 10 Rissman Michael P sold $3.05M worth of the stock or 61,768 shares.

More notable recent Republic Services, Inc. (NYSE:RSG) news were published by: Forbes.com which released: “Republic Services Reaches Analyst Target Price” on November 22, 2016, also Prnewswire.com with their article: “Republic Services Honored With Excellence Award for Landfill Gas Utilization” published on November 18, 2016, Prnewswire.com published: “Republic Services Honored by Washington Secretary of State Kim Wyman with 2016 …” on November 18, 2016. More interesting news about Republic Services, Inc. (NYSE:RSG) were released by: Prnewswire.com and their article: “Republic Services Named to Prestigious CDP Climate A List” published on November 10, 2016 as well as Finance.Yahoo.com‘s news article titled: “Republic Services Hits 52-Week High on Solid Q3 Results” with publication date: November 16, 2016.

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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