GFL Environmental (NYSE:GFL) Stock Price Expected to Rise, Scotiabank Analyst Says

GFL Environmental (NYSE:GFL) had its target price hoisted by Scotiabank from $52.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 33.96% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings upgraded shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Zacks Research downgraded shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Citigroup set a $51.00 target price on shares of GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.33.

GFL Environmental Trading Up 1.0%

NYSE:GFL traded up $0.43 on Friday, reaching $41.80. 834,502 shares of the company’s stock were exchanged, compared to its average volume of 2,351,262. GFL Environmental has a 52-week low of $33.33 and a 52-week high of $51.51. The business has a fifty day moving average of $37.27 and a 200-day moving average of $40.07. The firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of -78.89, a price-to-earnings-growth ratio of 3.05 and a beta of 0.70. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32.

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 analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. GFL Environmental had a positive return on equity of 4.13% and a negative net margin of 3.28%.GFL Environmental’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. As a group, analysts expect that GFL Environmental will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On GFL Environmental

Several institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in GFL Environmental during the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its stake in shares of GFL Environmental by 43.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of GFL Environmental in the 1st quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of GFL Environmental by 45.2% in 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 during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

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.