GFL Environmental (NYSE:GFL) Coverage Initiated by Analysts at Barclays

Key Points

• Barclays has initiated coverage on GFL Environmental with an "overweight" rating and a price target of $62.00, indicating a potential upside of 34.32% from the stock's previous close.
• Several other analysts have also revised their price targets for GFL, with Royal Bank of Canada and Scotiabank setting targets at $59.00 and $60.00, respectively.
• GFL Environmental has reported quarterly earnings of $0.19 per share, meeting analysts' expectations, but had lower revenue of $1.23 billion compared to the forecasted $1.68 billion.

Investment analysts at Barclays assumed coverage on shares of GFL Environmental (NYSE:GFL - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $62.00 price target on the stock. Barclays's price objective points to a potential upside of 33.48% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. National Bank Financial raised shares of GFL Environmental to a "strong-buy" rating in a research note on Monday, May 26th. Scotiabank upped their price objective on GFL Environmental from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Citigroup upped their price objective on GFL Environmental from $58.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday. Truist Financial upped their price objective on GFL Environmental from $58.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. assumed coverage on GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, GFL Environmental has a consensus rating of "Buy" and an average price target of $58.75.

GFL Environmental Stock Performance

Shares of GFL Environmental stock traded up $0.32 during trading hours on Friday, reaching $46.45. 1,745,658 shares of the stock traded hands, compared to its average volume of 1,170,883. The company has a 50 day moving average price of $48.80 and a 200 day moving average price of $48.66. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 7.31 and a beta of 1.11. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.89. GFL Environmental has a one year low of $38.78 and a one year high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. GFL Environmental had a return on equity of 3.71% and a net margin of 48.53%.The firm's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. GFL Environmental has set its FY 2025 guidance at EPS. On average, equities research analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of GFL Environmental

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Munro Partners purchased a new stake in GFL Environmental in the second quarter worth $12,926,000. Boussard & Gavaudan Investment Management LLP increased its stake in GFL Environmental by 14.3% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 66,058 shares of the company's stock worth $3,299,000 after purchasing an additional 8,288 shares during the period. Hudson Bay Capital Management LP increased its stake in GFL Environmental by 823.0% in the second quarter. Hudson Bay Capital Management LP now owns 197,366 shares of the company's stock worth $9,959,000 after purchasing an additional 224,666 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in GFL Environmental by 10.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 96,188 shares of the company's stock worth $4,803,000 after purchasing an additional 8,898 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in shares of GFL Environmental by 2.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 23,068 shares of the company's stock worth $1,147,000 after buying an additional 443 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 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.