GFL Environmental's (GFL) "Buy" Rating Reaffirmed at Citigroup

Key Points

• Citigroup has raised its price target for GFL Environmental stock from $56 to $58, indicating a potential upside of 14.84% from its previous close, and maintaining a "buy" rating.
• Several other analysts have also increased their price targets for GFL Environmental, with Scotiabank setting it at $60 and Royal Bank of Canada at $59.
• GFL Environmental reported $1.23 billion in revenue for its latest quarter, slightly below expectations, but achieved an earnings per share of $0.19, matching consensus estimates.

GFL Environmental (NYSE:GFL - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Citigroup in a report issued on Monday, Marketbeat reports. They presently have a $58.00 target price on the stock, up from their previous target price of $56.00. Citigroup's price target would indicate a potential upside of 15.49% from the stock's current price.

Other equities analysts also recently issued reports about the stock. National Bank Financial upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Seaport Res Ptn upgraded shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Truist Financial increased their price objective on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GFL Environmental in a research note on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective for the company. Finally, Royal Bank Of Canada increased their price objective on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, GFL Environmental currently has a consensus rating of "Buy" and a consensus target price of $57.86.

GFL Environmental Trading Down 0.6%

GFL Environmental stock opened at $50.22 on Monday. The firm has a 50-day moving average of $49.01 and a 200-day moving average of $47.67. GFL Environmental has a one year low of $38.29 and a one year high of $52.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.67 and a quick ratio of 0.82. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 7.91 and a beta of 1.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.29 EPS. The company's quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC raised its holdings in GFL Environmental by 23.3% in the 4th quarter. LPL Financial LLC now owns 128,253 shares of the company's stock valued at $5,712,000 after acquiring an additional 24,200 shares during the period. JPMorgan Chase & Co. raised its holdings in GFL Environmental by 18.6% in the 4th quarter. JPMorgan Chase & Co. now owns 968,669 shares of the company's stock valued at $43,145,000 after acquiring an additional 152,072 shares during the period. Geode Capital Management LLC raised its holdings in GFL Environmental by 38.7% in the 4th quarter. Geode Capital Management LLC now owns 1,274,496 shares of the company's stock valued at $56,496,000 after acquiring an additional 355,790 shares during the period. Envestnet Asset Management Inc. raised its holdings in GFL Environmental by 16.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 207,157 shares of the company's stock valued at $9,227,000 after acquiring an additional 29,467 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in GFL Environmental by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 702,607 shares of the company's stock valued at $31,294,000 after acquiring an additional 18,652 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Company Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.