Price Action Report: Could Republic Services, Inc. Lose its Strength? The Stock Reaches 52-Week High

Price Action Report: Could Republic Services, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Republic Services, Inc. (NYSE:RSG) hit a new 52-week high and has $57.04 target or 3.00% above today’s $55.38 share price. The 9 months bullish chart indicates low risk for the $18.81B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $57.04 price target is reached, the company will be worth $564.30 million 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. About 589,475 shares traded hands. Republic Services, Inc. (NYSE:RSG) has risen 19.86% since April 20, 2016 and is uptrending. It has outperformed by 15.30% 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. Republic Services has been the topic of 14 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Barclays Capital initiated the shares of RSG in a report on Thursday, October 22 with “Equal-Weight” rating. The firm earned “Buy” rating on Wednesday, August 19 by Zacks. The rating was initiated by JP Morgan on Thursday, December 17 with “Overweight”. The rating was initiated by Bank of America on Sunday, November 8 with “Buy”. The firm earned “Neutral” rating on Tuesday, March 22 by Sterne Agee CRT. The firm earned “Neutral” rating on Friday, November 6 by Credit Suisse. Imperial Capital maintained Republic Services, Inc. (NYSE:RSG) rating on Monday, November 2. Imperial Capital has “Outperform” rating and $50 price target. The company was initiated on Friday, August 26 by Macquarie Research. The company was initiated on Wednesday, May 18 by Argus Research. Bank of America initiated the stock with “Buy” rating in Friday, November 6 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 dropped, 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 California-based Skba Management Llc has invested 2.45% in Republic Services, Inc. (NYSE:RSG). Mitsubishi Ufj Tru And Bk Corporation last reported 0.08% of its portfolio in the stock. Stifel Fin Corporation holds 0.03% or 109,464 shares in its portfolio. Amalgamated Fincl Bank has 0.03% invested in the company for 11,079 shares. First In has 0.09% invested in the company for 3,000 shares. Magnetar Ltd Liability owns 4,917 shares or 0% of their US portfolio. Natixis has 0.28% invested in the company for 293,348 shares. Moreover, Aperio Group Inc Ltd Liability Com has 0.09% invested in Republic Services, Inc. (NYSE:RSG) for 232,350 shares. Kornitzer Cap Inc Ks has 0.41% invested in the company for 443,560 shares. Sasco Inc Ct accumulated 5.07% or 3.95 million shares. Mount Lucas Mngmt Lp has invested 0.54% of its portfolio in Republic Services, Inc. (NYSE:RSG). Moreover, Ridgeworth Capital Management Lc has 0.06% invested in Republic Services, Inc. (NYSE:RSG) for 123,109 shares. Jupiter Asset Mgmt Limited, a United Kingdom-based fund reported 470,860 shares. Norinchukin State Bank The last reported 0.02% of its portfolio in the stock. Tudor Invest Corporation Et Al owns 16,925 shares or 0.02% of their US portfolio.

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 5 selling transactions for $13.20 million net activity. 3,780 Republic Services, Inc. (NYSE:RSG) shares with value of $192,155 were sold by GOEBEL BRIAN A. The insider SLAGER DONALD W sold $8.56M. On Friday, June 10 the insider Rissman Michael P sold $3.05 million.

More important 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 published article titled: “Republic Services Honored With Excellence Award for Landfill Gas Utilization”, Fool.com published: “Republic Services, Inc. Continues Its Slow and Steady Pace” on October 28, 2016. More interesting news about Republic Services, Inc. (NYSE:RSG) was released by: Prnewswire.com and their article: “Republic Services Named to Prestigious CDP Climate A List” with publication date: November 10, 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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