GFL Environmental (NYSE:GFL) Stock Gets Price Target Boost from JPMorgan Chase & Co.

Key Points

• JPMorgan raised GFL Environmental’s price target from $41 to $42 but maintained an “underweight” rating, implying roughly 4.1% downside from the stock’s reported $43.81 price.
• Analyst sentiment is mixed but leans positive: GFL has a “Moderate Buy” consensus rating and an average price target of $57.56, supported by nine Buy ratings versus three Holds and two Sells.
• GFL’s latest quarter showed revenue growth of 16.3% year over year to $1.37 billion, but earnings per share of $0.14 missed the $0.17 consensus estimate; institutional investors own approximately 64.7% of the company.

GFL Environmental (NYSE:GFL - Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 4.13% from the company's current price.

Several other analysts also recently weighed in on GFL. Barclays initiated coverage on GFL Environmental in a report on Wednesday, September 2nd. They issued an "overweight" rating and a $58.00 price objective for the company. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a report on Monday, August 31st. Scotiabank cut their target price on shares of GFL Environmental from $57.00 to $55.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 15th. Weiss Ratings raised shares of GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Finally, Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a "buy" rating in a report on Wednesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, GFL Environmental currently has an average rating of "Moderate Buy" and an average price target of $57.56.

GFL Environmental Trading Down 1.5%

GFL stock traded down $0.66 during mid-day trading on Wednesday, reaching $43.81. The company had a trading volume of 451,968 shares, compared to its average volume of 2,519,496. The company has a market capitalization of $15.81 billion, a PE ratio of -82.81, a price-to-earnings-growth ratio of 3.43 and a beta of 0.72. The firm has a 50 day moving average of $42.23 and a 200 day moving average of $39.79. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $47.01. 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 (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 for 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 business's revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities analysts predict that GFL Environmental will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of GFL. QV Investors Inc. acquired a new stake in GFL Environmental in the 3rd quarter worth approximately $44,887,000. Bank Pictet & Cie Europe AG grew its position in GFL Environmental by 118.7% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 26,905 shares of the company's stock worth $1,127,000 after purchasing an additional 14,605 shares during the last quarter. Net Worth Advisory Group grew its position in GFL Environmental by 23.5% during the 3rd quarter. Net Worth Advisory Group now owns 9,284 shares of the company's stock worth $375,000 after purchasing an additional 1,764 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in GFL Environmental by 29.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 374,906 shares of the company's stock valued at $15,182,000 after purchasing an additional 84,555 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its stake in GFL Environmental by 123.9% during the 3rd quarter. Banque Pictet & Cie SA now owns 475,596 shares of the company's stock valued at $19,918,000 after purchasing an additional 263,206 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 Canadian 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, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.