Barclays Upgrades GFL Environmental (NYSE:GFL) to Strong-Buy

Key Points

• Barclays upgraded GFL Environmental to “strong buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $54.25.
• GFL reported quarterly revenue of $1.37 billion, up 16.3% year over year, but earnings per share of $0.14 fell short of the $0.17 consensus estimate.
• Institutional investors and hedge funds own 64.7% of GFL’s shares, with several major investors establishing new positions during the second quarter.

GFL Environmental (NYSE:GFL - Get Free Report) was upgraded by equities research analysts at Barclays to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, July 16th. Zacks Research downgraded GFL Environmental from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Weiss Ratings raised GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Scotiabank reiterated an "outperform" rating on shares of GFL Environmental in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of GFL Environmental in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.25.

GFL Environmental Price Performance

Shares of GFL opened at $42.55 on Wednesday. GFL Environmental has a fifty-two week low of $33.33 and a fifty-two week high of $49.53. The firm's 50 day moving average price is $40.23 and its 200 day moving average price is $39.82. The company has a market cap of $15.35 billion, a P/E ratio of -80.28, a PEG ratio of 2.69 and a beta of 0.68. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business 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 business's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. On average, research analysts forecast that GFL Environmental will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Several large investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in shares of GFL Environmental during the second quarter worth approximately $4,970,000. Nykredit A S purchased a new stake in GFL Environmental in the 2nd quarter valued at $966,000. Boussard & Gavaudan Gestion Sas purchased a new stake in GFL Environmental in the 2nd quarter valued at $4,707,000. Public Employees Retirement System of Ohio acquired a new stake in GFL Environmental during the 2nd quarter worth $3,248,000. Finally, S&CO Inc. acquired a new stake in GFL Environmental during the 2nd quarter worth $10,798,000. 64.70% of the stock is owned by institutional investors and hedge funds.

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.

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