GFL Environmental (NYSE:GFL) Price Target Raised to $41.00

GFL Environmental (NYSE:GFL) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $40.00 to $41.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.03% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings downgraded GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Finally, Scotiabank dropped their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.89.

GFL Environmental Price Performance

Shares of NYSE:GFL traded up $0.87 during trading hours on Thursday, hitting $39.79. 1,396,751 shares of the company’s stock traded hands, compared to its average volume of 2,342,752. The company’s fifty day simple moving average is $36.68 and its two-hundred day simple moving average is $40.33. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 124.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.70. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.51 and a current ratio of 1.51. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $51.51.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) earnings per share. As a group, equities analysts anticipate that GFL Environmental will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently modified their holdings of GFL. Jones Financial Companies Lllp raised its stake in shares of GFL Environmental by 684.5% in the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after acquiring an additional 2,245 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in GFL Environmental by 94.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock worth $34,514,000 after acquiring an additional 346,394 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after purchasing an additional 14,252 shares during the last quarter. Invesco Ltd. boosted its stake in GFL Environmental by 22.7% during the 2nd quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock valued at $4,388,000 after purchasing an additional 16,096 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Company Profile

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.