GFL Environmental’s (GFL) Outperform Rating Reaffirmed at Wolfe Research

GFL Environmental (NYSE:GFL)‘s stock had its “outperform” rating restated by investment analysts at Wolfe Research in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $77.00 price target on the stock. Wolfe Research’s price target suggests a potential upside of 80.65% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. TD Cowen restated a “buy” rating and set a $65.00 price target on shares of GFL Environmental in a report on Friday. Citigroup set a $51.00 price objective on shares of GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, September 2nd. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and an average target price of $57.60.

GFL Environmental Stock Performance

GFL Environmental stock opened at $42.62 on Tuesday. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $48.07. 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 capitalization of $15.38 billion, a P/E ratio of -80.42, a PEG ratio of 2.78 and a beta of 0.68. The stock’s 50 day moving average is $41.05 and its 200 day moving average is $39.81.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data 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). GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts predict that GFL Environmental will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its position in GFL Environmental by 17.6% in the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of GFL Environmental by 25.8% during the 4th quarter. CIBC Asset Management Inc now owns 5,101,264 shares of the company’s stock valued at $219,360,000 after purchasing an additional 1,047,180 shares during the period. Norges Bank purchased a new stake in shares of GFL Environmental during the 4th quarter valued at about $149,466,000. Geode Capital Management LLC increased its position in shares of GFL Environmental by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 2,224,997 shares of the company’s stock valued at $95,178,000 after purchasing an additional 138,543 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of GFL Environmental by 43.8% in the 1st quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock worth $77,064,000 after purchasing an additional 563,001 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

GFL Environmental Inc is an environmental services company that provides waste management and infrastructure services to residential, commercial, industrial, municipal and institutional customers. Its operations include the collection, transfer, processing, recycling and disposal of solid waste, as well as the management of organic materials and other waste streams.

The company also provides environmental and infrastructure-related services, including soil remediation, dewatering, excavation, demolition and other site services.