JPMorgan Chase & Co. Issues Positive Forecast for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL) had its price target lifted by analysts at JPMorgan Chase & Co. from $40.00 to $41.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.03% from the stock’s previous close.

GFL has been the topic of several other research reports. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the stock a “buy” rating in a research report on Monday, July 6th. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Scotiabank reduced their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a report on Monday, May 4th. Weiss Ratings lowered GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $54.89.

GFL Environmental Price Performance

GFL stock traded up $0.87 during trading on Thursday, hitting $39.79. 1,396,751 shares of the stock traded hands, compared to its average volume of 2,342,752. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 124.44, a P/E/G ratio of 2.76 and a beta of 0.70. GFL Environmental has a one year low of $33.33 and a one year high of $51.51. The company has a 50 day simple moving average of $36.68 and a 200 day simple moving average of $40.33.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned ($0.09) EPS. GFL Environmental’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that GFL Environmental will post 0.59 EPS for the current fiscal year.

Institutional Trading of GFL Environmental

Institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of GFL Environmental during the fourth quarter worth $25,000. Whipplewood Advisors LLC bought a new position in GFL Environmental during the first quarter worth about $32,000. Sunbelt Securities Inc. acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC grew its position in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock worth $37,000 after buying an additional 219 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

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.