GFL Environmental (NYSE:GFL) Price Target Raised to $57.00 at Scotiabank

Key Points

• Scotiabank raised GFL Environmental’s price target to $57 from $56 and maintained a “sector outperform” rating, implying 31.64% upside from the prior close.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a consensus price target of $54.25; Barclays separately initiated coverage with an “overweight” rating and a $58 target.
• GFL shares rose 4.3% to $43.30, while quarterly revenue increased 16.3% year over year to $1.37 billion. However, EPS of $0.14 fell short of the $0.17 consensus estimate.

GFL Environmental (NYSE:GFL - Get Free Report) had its price target raised by equities research analysts at Scotiabank from $56.00 to $57.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 31.64% from the company's previous close.

A number of other brokerages have also issued reports on GFL. Zacks Research lowered GFL Environmental from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of GFL Environmental in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of GFL Environmental from $40.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. Barclays assumed coverage on GFL Environmental in a research report on Wednesday. They issued an "overweight" rating and a $58.00 price objective on the stock. Finally, 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. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.25.

GFL Environmental Trading Up 4.3%

NYSE:GFL traded up $1.80 during midday trading on Wednesday, hitting $43.30. 813,079 shares of the company traded hands, compared to its average volume of 2,286,878. GFL Environmental has a 12-month low of $33.33 and a 12-month high of $49.53. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $15.63 billion, a P/E ratio of -81.81, a P/E/G ratio of 2.74 and a beta of 0.68. The firm's fifty day moving average is $40.13 and its 200-day moving average is $39.81.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $1.37 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. On average, sell-side analysts predict that GFL Environmental will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GFL. EverSource Wealth Advisors LLC raised its holdings in 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 purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC increased its stake in GFL Environmental by 4.1% in the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock valued at $310,000 after buying an additional 256 shares during the last quarter. Tobam raised its stake in shares of GFL Environmental by 10.5% during the 4th quarter. Tobam now owns 3,079 shares of the company's stock worth $132,000 after purchasing an additional 293 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings 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 purchasing an additional 304 shares during the period. Finally, Engineers Gate Manager LP boosted its position in GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company's stock worth $262,000 after purchasing an additional 331 shares during the period. 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.

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