GFL Environmental (NYSE:GFL) Receives “Outperform” Rating from Raymond James

GFL Environmental (NYSE:GFL)‘s stock had its “outperform” rating reaffirmed by Raymond James in a research note issued to investors on Friday,Benzinga reports. They currently have a $57.00 price objective on the stock, up from their previous price objective of $56.00. Raymond James’ price target would indicate a potential upside of 13.10% from the company’s previous close.

Several other research analysts also recently issued reports on GFL. UBS Group upped their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Citigroup decreased their price target on shares of GFL Environmental from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. Finally, Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.13.

GFL Environmental Price Performance

GFL stock opened at $50.40 on Friday. GFL Environmental has a 1 year low of $30.57 and a 1 year high of $51.04. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of -37.89 and a beta of 1.08. The company has a 50 day simple moving average of $47.34 and a 200 day simple moving average of $45.37.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. Research analysts anticipate that GFL Environmental will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Generate Investment Management Ltd acquired a new position in GFL Environmental in the fourth quarter valued at approximately $15,041,000. Tobam bought a new position in GFL Environmental during the fourth quarter worth $1,846,000. Raymond James Financial Inc. bought a new position in GFL Environmental during the fourth quarter worth $18,836,000. Bleakley Financial Group LLC grew its holdings in GFL Environmental by 9.9% in the fourth quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock worth $354,000 after purchasing an additional 718 shares during the period. Finally, Quaero Capital S.A. raised its holdings in shares of GFL Environmental by 35.1% during the fourth quarter. Quaero Capital S.A. now owns 37,310 shares of the company’s stock valued at $1,662,000 after purchasing an additional 9,690 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.