GFL Environmental (NYSE:GFL) Price Target Raised to $48.00

GFL Environmental (NYSE:GFL) had its target price upped by stock analysts at JPMorgan Chase & Co. from $46.75 to $48.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.60% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus initiated coverage on GFL Environmental in a research report on Tuesday, September 30th. They set a “buy” rating on the stock. William Blair began coverage on shares of GFL Environmental in a research note on Thursday, September 25th. They issued an “outperform” rating on the stock. Barclays assumed coverage on shares of GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 target price for the company. Scotiabank set a $58.00 price objective on shares of GFL Environmental in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of GFL Environmental in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, GFL Environmental presently has an average rating of “Buy” and a consensus price target of $57.22.

GFL Environmental Price Performance

Shares of NYSE GFL traded down $0.48 during midday trading on Wednesday, reaching $41.88. 1,116,310 shares of the stock traded hands, compared to its average volume of 1,684,569. The company’s 50 day moving average is $43.94 and its 200 day moving average is $46.33. GFL Environmental has a one year low of $40.83 and a one year high of $52.00. 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 $15.04 billion, a PE ratio of 6.57 and a beta of 0.88.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results 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). GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $0.33 EPS. GFL Environmental’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of GFL Environmental during the 2nd quarter worth approximately $171,945,000. Nordea Investment Management AB grew its holdings in GFL Environmental by 40.8% in the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after purchasing an additional 1,932,442 shares during the last quarter. UBS Group AG increased its position in shares of GFL Environmental by 203.9% during the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of GFL Environmental by 25.5% during the 3rd quarter. American Century Companies Inc. now owns 6,023,139 shares of the company’s stock valued at $285,377,000 after purchasing an additional 1,225,108 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of GFL Environmental by 62.6% in the 3rd quarter. Millennium Management LLC now owns 2,412,497 shares of the company’s stock worth $114,304,000 after purchasing an additional 929,206 shares in the last quarter. Institutional investors 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.