JPMorgan Chase & Co. Cuts GFL Environmental (NYSE:GFL) Price Target to $40.00

GFL Environmental (NYSE:GFL) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $42.00 to $40.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.02% from the stock’s current price.

GFL has been the subject of a number of other reports. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings downgraded GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Scotiabank dropped their price target on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 4th. Wolfe Research began coverage on shares of GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating on the stock. Finally, Citigroup cut their target price on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.78.

GFL Environmental Stock Up 5.6%

Shares of NYSE GFL opened at $39.59 on Monday. The stock has a 50-day moving average price of $36.58 and a two-hundred day moving average price of $40.53. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 123.53, a PEG ratio of 2.91 and a beta of 0.70. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $51.51. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) EPS. As a group, analysts forecast that GFL Environmental will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of GFL Environmental in the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new stake in shares of GFL Environmental during the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of GFL Environmental during the first quarter valued at about $32,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of GFL Environmental by 45.2% during the third 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 period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

About GFL Environmental

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.