GFL Environmental (NYSE:GFL) Price Target Cut to $52.00 by Analysts at Scotiabank

GFL Environmental (NYSE:GFL) had its price objective decreased by analysts at Scotiabank from $56.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 36.88% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Royal Bank Of Canada upped their price objective on GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. downgraded GFL Environmental from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $49.00 to $42.00 in a research report on Tuesday, April 14th. Citigroup reduced their price objective on GFL Environmental from $55.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Wolfe Research assumed coverage on GFL Environmental in a research report on Friday, March 13th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.00.

GFL Environmental Price Performance

GFL Environmental stock traded down $0.51 during mid-day trading on Monday, reaching $37.99. The company had a trading volume of 1,258,755 shares, compared to its average volume of 1,965,844. GFL Environmental has a 1 year low of $36.96 and a 1 year high of $52.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 0.58. The company has a market capitalization of $13.60 billion, a P/E ratio of 118.74, a P/E/G ratio of 2.94 and a beta of 0.78. The stock’s 50-day simple moving average is $41.99 and its 200-day simple moving average is $43.20.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted ($0.09) EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that GFL Environmental will post 0.55 EPS for the current year.

Institutional Trading of GFL Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 219 shares during the period. Advisory Services Network LLC grew its stake 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 valued at $310,000 after buying an additional 256 shares during the period. Jones Financial Companies Lllp grew its stake in shares of GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after buying an additional 289 shares during the period. Tobam grew its stake in shares of GFL Environmental by 10.5% during the 4th quarter. Tobam now owns 3,079 shares of the company’s stock valued at $132,000 after buying an additional 293 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew 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 period. 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.