GFL Environmental (NYSE:GFL) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised its price target for GFL Environmental from $51 to $52 and maintained a “buy” rating, implying approximately 13% upside from the previous close.
• Analyst sentiment is generally positive: GFL has a consensus “Moderate Buy” rating and an average price target of $57.89, based on 10 Buy, three Hold, and two Sell ratings.
• GFL reported quarterly earnings of $0.19 per share, matching estimates, while revenue of $2.16 billion exceeded the $1.49 billion consensus forecast. Institutional investors own approximately 64.7% of the company.

GFL Environmental (NYSE:GFL - Get Free Report) had its price objective upped by research analysts at Citigroup from $51.00 to $52.00 in a report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 13.02% from the company's previous close.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of GFL Environmental from $41.00 to $42.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 21st. Jefferies Financial Group reissued a "buy" rating on shares of GFL Environmental in a report on Friday. Barclays increased their target price on shares of GFL Environmental from $58.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of GFL Environmental in a research report on Monday, August 31st. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of GFL Environmental in a research note on Thursday, October 15th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, GFL Environmental has an average rating of "Moderate Buy" and a consensus price target of $57.89.

GFL Environmental Price Performance

GFL Environmental stock traded up $0.80 during trading on Monday, reaching $46.01. The company had a trading volume of 984,207 shares, compared to its average volume of 2,647,949. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.75 and a current ratio of 0.93. The firm's 50-day simple moving average is $42.71 and its 200 day simple moving average is $40.83. The firm has a market capitalization of $16.60 billion, a PE ratio of -58.21, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68. GFL Environmental has a 1-year low of $33.33 and a 1-year high of $46.76.

GFL Environmental (NYSE:GFL - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. GFL Environmental had a positive return on equity of 3.84% and a negative net margin of 4.93%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, equities research analysts anticipate that GFL Environmental will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in GFL Environmental by 43.8% during 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 in the last quarter. Verbena Value LP boosted its position in shares of GFL Environmental by 44.7% in the first quarter. Verbena Value LP now owns 1,211,100 shares of the company's stock worth $50,527,000 after buying an additional 374,000 shares during the period. The Manufacturers Life Insurance Company grew its stake in GFL Environmental by 68.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company's stock valued at $48,309,000 after acquiring an additional 471,935 shares in the last quarter. QV Investors Inc. acquired a new position in GFL Environmental in the 3rd quarter valued at approximately $44,887,000. Finally, Schwartz Investment Counsel Inc. increased its stake in shares of GFL Environmental by 30.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 976,062 shares of the company's stock worth $40,829,000 after acquiring an additional 230,199 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company's stock.

About GFL Environmental

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.

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