GFL Environmental (NYSE:GFL) Given New $57.00 Price Target at Scotiabank

by · The Cerbat Gem

GFL Environmental (NYSE:GFL – Get Free Report) had its price target decreased by research analysts at Scotiabank from $58.00 to $57.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 29.37% from the stock’s current price.

GFL has been the subject of several other research reports. Wells Fargo & Company started coverage on GFL Environmental in a research report on Thursday, November 13th. They issued an “overweight” rating for the company. William Blair started coverage on GFL Environmental in a report on Thursday, September 25th. They issued an “outperform” rating for the company. Citigroup cut their target price on GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. The Goldman Sachs Group assumed coverage on GFL Environmental in a research report on Monday, November 24th. They issued a “neutral” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on shares of GFL Environmental in a research report on Tuesday, September 30th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of “Buy” and a consensus target price of $56.56.

Check Out Our Latest Stock Report on GFL

GFL Environmental Price Performance

Shares of GFL stock traded up $1.70 during trading hours on Wednesday, hitting $44.06. The stock had a trading volume of 277,953 shares, compared to its average volume of 1,648,127. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 6.90 and a beta of 0.88. GFL Environmental has a one year low of $40.83 and a one year high of $52.00. The stock’s 50-day moving average price is $43.83 and its two-hundred day moving average price is $46.10.

GFL Environmental (NYSE:GFL – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.69 billion. GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. Equities analysts forecast that GFL Environmental will post 0.58 EPS for the current year.

Hedge Funds Weigh In On GFL Environmental

Several institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in 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 period. Advisory Services Network LLC raised its holdings in shares of GFL Environmental by 4.1% in the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after purchasing an additional 256 shares in the last quarter. AGP Franklin LLC lifted its position in shares of GFL Environmental by 3.7% in the 2nd quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after purchasing an additional 262 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock valued at $75,000 after purchasing an additional 289 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

About GFL Environmental

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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.

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