GFL Environmental (NYSE:GFL) Given New $56.00 Price Target at Scotiabank

GFL Environmental (NYSE:GFL) had its target price reduced by equities researchers at Scotiabank from $57.00 to $56.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 35.07% from the stock’s current price.

Several other research analysts have also recently commented on GFL. The Goldman Sachs Group initiated coverage on shares of GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target for the company. Barclays increased their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. increased their target price on shares of GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company started coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They issued an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.56.

GFL Environmental Stock Performance

NYSE GFL traded down $2.59 during trading hours on Thursday, reaching $41.46. The stock had a trading volume of 1,011,872 shares, compared to its average volume of 1,538,662. GFL Environmental has a 52-week low of $40.83 and a 52-week high of $52.00. The stock has a fifty day moving average of $43.31 and a 200 day moving average of $45.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $14.89 billion, a P/E ratio of 6.52 and a beta of 0.88.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.58) earnings per share. Sell-side analysts predict that GFL Environmental will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Berbice Capital Management LLC acquired a new stake in GFL Environmental in the 2nd quarter worth about $25,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its position in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after acquiring an additional 219 shares during the last quarter. Compass Financial Services Inc grew its holdings in GFL Environmental by 63.0% in the second quarter. Compass Financial Services Inc now owns 820 shares of the company’s stock valued at $41,000 after purchasing an additional 317 shares during the period. Finally, 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 purchasing an additional 304 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

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.