GFL Environmental (NYSE:GFL) Given a $51.00 Price Target by Citigroup Analysts

GFL Environmental (NYSE:GFL) has been assigned a $51.00 price objective by equities researchers at Citigroup in a report issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 24.25% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Zacks Research cut GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Wolfe Research assumed coverage on shares of GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of GFL Environmental from $42.00 to $40.00 and set an “underweight” rating for the company in a research note on Monday. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $54.78.

GFL Environmental Stock Performance

NYSE GFL traded up $3.56 on Monday, hitting $41.05. 4,777,010 shares of the company’s stock were exchanged, compared to its average volume of 2,265,905. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 128.41, a P/E/G ratio of 2.91 and a beta of 0.70. GFL Environmental has a fifty-two week low of $33.33 and a fifty-two week high of $51.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The firm’s 50-day moving average price is $36.58 and its two-hundred day moving average price is $40.53.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that GFL Environmental will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GFL. EverSource Wealth Advisors LLC boosted its position in shares of GFL Environmental by 43.1% in the 2nd 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. Advisory Services Network LLC boosted its position in shares of GFL Environmental by 4.1% during the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock worth $310,000 after purchasing an additional 256 shares in the last quarter. Tobam increased its position in GFL Environmental by 10.5% in the fourth quarter. Tobam now owns 3,079 shares of the company’s stock worth $132,000 after buying an additional 293 shares during the period. Caitong International Asset Management Co. Ltd increased its position in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after acquiring an additional 304 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in GFL Environmental by 6.8% in the 2nd quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after acquiring an additional 331 shares in the last quarter. 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.