GFL Environmental (NYSE:GFL) Rating Increased to Strong-Buy at Barclays

GFL Environmental (NYSE:GFL) was upgraded by analysts at Barclays to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

Several other equities research analysts also recently weighed in on GFL. JPMorgan Chase & Co. increased their price target on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the company a “buy” rating in a research note on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research report on Wednesday. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

GFL Environmental Stock Up 2.5%

GFL opened at $42.55 on Wednesday. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $49.53. The business has a 50 day moving average price of $40.23 and a two-hundred day moving average price of $39.82. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34. The company has a market cap of $15.35 billion, a PE ratio of -80.28, a P/E/G ratio of 2.69 and a beta of 0.68.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. As a group, research analysts anticipate that GFL Environmental will post 0.65 EPS for the current year.

Hedge Funds Weigh In On GFL Environmental

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of GFL Environmental in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in GFL Environmental during the first quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in GFL Environmental during the third quarter worth about $33,000. EverSource Wealth Advisors LLC increased its holdings in GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in 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 buying an additional 304 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

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.