GFL Environmental (NYSE:GFL) PT Set at $51.00 by Citigroup

Key Points

• Citigroup set a $51 price target for GFL Environmental and maintained a “buy” rating, implying 18.75% upside from the stock’s $42.95 price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.67; targets from other firms range as high as $77.
• GFL’s latest quarter showed 16.3% year-over-year revenue growth to $1.37 billion, but earnings of $0.14 per share fell short of the $0.17 consensus estimate. Institutional investors own 64.70% of the company.

GFL Environmental (NYSE:GFL - Get Free Report) received a $51.00 price objective from analysts at Citigroup in a report issued on Wednesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 18.75% from the company's current price.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on GFL Environmental from $40.00 to $41.00 and gave the stock an "underweight" rating in a research note on Thursday, July 16th. TD Cowen reissued a "buy" rating and issued a $65.00 price objective on shares of GFL Environmental in a research note on Friday, September 11th. Weiss Ratings upgraded GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 26th. Wolfe Research began coverage on GFL Environmental in a report on Tuesday, September 15th. They set an "outperform" rating and a $77.00 price objective for the company. Finally, Scotiabank reaffirmed an "outperform" rating on shares of GFL Environmental in a research report on Wednesday, September 2nd. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.67.

GFL Environmental Trading Up 0.5%

Shares of NYSE:GFL traded up $0.20 during mid-day trading on Wednesday, hitting $42.95. The company had a trading volume of 2,331,029 shares, compared to its average volume of 2,439,342. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. GFL Environmental has a one year low of $33.33 and a one year high of $47.01. The firm has a fifty day moving average price of $41.97 and a 200 day moving average price of $39.68. The company has a market capitalization of $15.50 billion, a PE ratio of -81.01, a price-to-earnings-growth ratio of 3.12 and a beta of 0.72.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. GFL Environmental had a negative net margin of 3.28% and a positive return on equity of 4.14%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. As a group, research analysts forecast that GFL Environmental will post 0.57 EPS for the current year.

Institutional Trading of GFL Environmental

Several institutional investors and hedge funds have recently made changes to their positions in GFL. Bank of America Corp DE grew its stake in shares of GFL Environmental by 43.8% in the first 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 last quarter. The Manufacturers Life Insurance Company raised its position in shares of GFL Environmental by 68.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company's stock worth $48,309,000 after purchasing an additional 471,935 shares during the last quarter. Advent International L.P. boosted its stake in GFL Environmental by 117.1% in the 1st quarter. Advent International L.P. now owns 823,010 shares of the company's stock worth $34,336,000 after purchasing an additional 443,918 shares in the last quarter. Verbena Value LP increased its stake in GFL Environmental by 44.7% during the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company's stock valued at $50,527,000 after purchasing an additional 374,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of GFL Environmental by 249.8% in the first quarter. Renaissance Technologies LLC now owns 458,847 shares of the company's stock worth $19,143,000 after buying an additional 327,686 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company's stock.

GFL Environmental Company Profile

GFL Environmental Inc is a North American environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company's operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste.

GFL also provides recycling and organics management services, including the processing of recyclable materials and organic waste. Its environmental services include liquid waste management, soil remediation, infrastructure services and other specialized solutions for industrial and commercial customers.

Founded in 2007, GFL is headquartered in Vaughan, Ontario, and serves communities and customers across Canada and the United States.

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