GFL Environmental (NYSE:GFL) Stock Price Expected to Rise, Scotiabank Analyst Says

GFL Environmental (NYSE:GFL) had its price target increased by analysts at Scotiabank from $56.00 to $57.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 31.64% from the company’s current price.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Citigroup set a $51.00 price target on GFL Environmental and gave the stock a “buy” rating in a research note on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.25.

GFL Environmental Stock Up 4.3%

Shares of GFL traded up $1.80 during trading hours on Wednesday, reaching $43.30. The stock had a trading volume of 813,079 shares, compared to its average volume of 2,286,878. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of -81.81, a P/E/G ratio of 2.74 and a beta of 0.68. The firm has a 50-day simple moving average of $40.13 and a 200 day simple moving average of $39.81. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $49.53. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Equities research analysts predict that GFL Environmental will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GFL Environmental

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of GFL Environmental during the 4th quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in shares of GFL Environmental in the first quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new position in GFL Environmental during the 3rd quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after purchasing an additional 219 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after buying an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.