GFL Environmental’s (GFL) Buy Rating Reiterated at TD Cowen

GFL Environmental (NYSE:GFL)‘s stock had its “buy” rating reaffirmed by research analysts at TD Cowen in a research note issued to investors on Friday, Benzinga reports. They presently have a $65.00 price objective on the stock. TD Cowen’s price target suggests a potential upside of 56.63% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Barclays assumed coverage on GFL Environmental in a report on Wednesday, September 2nd. They issued an “overweight” rating and a $58.00 price objective on the stock. Weiss Ratings upgraded GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. upped their target price on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. 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 stock. According to MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $55.44.

GFL Environmental Stock Performance

Shares of GFL traded down $0.13 during trading hours on Friday, reaching $41.50. 187,082 shares of the company traded hands, compared to its average volume of 2,311,120. The stock has a market capitalization of $14.98 billion, a P/E ratio of -78.27, a P/E/G ratio of 2.73 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. GFL Environmental has a 12-month low of $33.33 and a 12-month high of $48.14. The business has a fifty day moving average price of $40.90 and a 200-day moving average price of $39.80.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. GFL Environmental’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Equities analysts anticipate that GFL Environmental will post 0.65 EPS for the current fiscal year.

Institutional Trading of GFL Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in GFL Environmental in the fourth quarter valued at $149,466,000. Maverick Capital Ltd. boosted its stake in shares of GFL Environmental by 216.5% during the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock worth $215,761,000 after acquiring an additional 3,436,419 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of GFL Environmental by 17.6% during the 4th quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after acquiring an additional 3,267,936 shares in the last quarter. UBS Group AG grew its position in shares of GFL Environmental by 203.9% during the 3rd quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock valued at $92,224,000 after acquiring an additional 1,305,953 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of GFL Environmental by 11,121.4% during the 4th quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after acquiring an additional 1,170,524 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Company Profile

GFL Environmental Inc is an environmental services company that provides waste management and infrastructure services to residential, commercial, industrial, municipal and institutional customers. Its operations include the collection, transfer, processing, recycling and disposal of solid waste, as well as the management of organic materials and other waste streams.

The company also provides environmental and infrastructure-related services, including soil remediation, dewatering, excavation, demolition and other site services.