Truist Financial Has Lowered Expectations for GFL Environmental (NYSE:GFL) Stock Price

Key Points

• Truist Financial lowered GFL Environmental’s price target from $60 to $55 while maintaining a “buy” rating, implying approximately 19% upside from the stock’s $46.17 price.
• Analyst sentiment remains generally positive: GFL has an overall “Moderate Buy” rating and an average price target of $57.60, with 11 buy, three hold and two sell ratings.
• GFL reported quarterly EPS of $0.19, in line with consensus, and revenue of $2.16 billion versus the $1.49 billion estimate; institutional investors own 64.7% of the company’s shares.

GFL Environmental (NYSE:GFL - Get Free Report) had its price target lowered by equities researchers at Truist Financial from $60.00 to $55.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 19.12% from the stock's current price.

GFL has been the topic of several other research reports. BMO Capital Markets restated a "market perform" rating on shares of GFL Environmental in a report on Thursday, October 15th. Barclays lifted their price objective on GFL Environmental from $58.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday. Scotiabank upped their target price on GFL Environmental from $55.00 to $56.00 and gave the company a "sector outperform" rating in a research note on Friday. Weiss Ratings upgraded GFL Environmental from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of GFL Environmental in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of "Moderate Buy" and an average target price of $57.60.

GFL Environmental Price Performance

GFL Environmental stock traded up $0.19 during trading hours on Tuesday, hitting $46.17. The stock had a trading volume of 364,553 shares, compared to its average volume of 2,645,682. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of -58.41, a PEG ratio of 3.22 and a beta of 0.72. GFL Environmental has a 1-year low of $33.33 and a 1-year high of $46.76. The stock's fifty day moving average is $42.81 and its two-hundred day moving average is $40.85.

GFL Environmental (NYSE:GFL - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. GFL Environmental had a positive return on equity of 4.39% and a negative net margin of 4.93%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.49 billion. As a group, analysts predict that GFL Environmental will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of GFL. Kestra Advisory Services LLC acquired a new stake in shares of GFL Environmental in the 3rd quarter valued at about $309,000. Covestor Ltd bought a new position in shares of GFL Environmental during the third quarter worth about $478,000. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in GFL Environmental in the third quarter worth about $210,000. Greenleaf Trust grew its stake in GFL Environmental by 2.2% in the third quarter. Greenleaf Trust now owns 12,964 shares of the company's stock worth $542,000 after purchasing an additional 274 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in GFL Environmental by 158.7% in the third quarter. Vise Technologies Inc. now owns 19,401 shares of the company's stock worth $812,000 after purchasing an additional 11,901 shares in the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

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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