GFL Environmental (NYSE:GFL) Price Target Cut to $52.00 by Analysts at Scotiabank

Key Points

• Scotiabank cut its price target on GFL to $52 (from $56) but kept a "sector outperform" rating, implying about a 36.9% upside from the current share price (~$37.99).
• Analyst consensus remains broadly positive—MarketBeat shows a “Moderate Buy” consensus with an average target of $55 and a mix of 2 Strong Buy, 11 Buy, 2 Hold and 1 Sell ratings; some firms (RBC, Barclays) raised targets while Citigroup trimmed theirs to $51.
• GFL slightly beat Q1 estimates with $0.06 EPS vs. $0.05 expected and revenue of $1.18B (up 5.4% YoY); the stock is trading near its 52-week low (~$36.96–$37.99) and carries an elevated P/E (~119).

GFL Environmental (NYSE:GFL - Get Free Report) had its target price cut by investment analysts at Scotiabank from $56.00 to $52.00 in a report released on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 36.88% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of GFL Environmental from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of GFL Environmental from $59.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Barclays increased their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. Wolfe Research assumed coverage on shares of GFL Environmental in a report on Friday, March 13th. They set an "outperform" rating for the company. Finally, Citigroup cut their price target on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

GFL Environmental Stock Performance

Shares of NYSE:GFL traded down $0.51 on Monday, reaching $37.99. The company's stock had a trading volume of 1,258,755 shares, compared to its average volume of 1,965,844. The stock's 50-day moving average is $41.99 and its two-hundred day moving average is $43.20. GFL Environmental has a 52-week low of $36.96 and a 52-week high of $52.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 0.58. The stock has a market capitalization of $13.60 billion, a P/E ratio of 118.74, a PEG ratio of 2.94 and a beta of 0.78.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the company earned ($0.09) earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that GFL Environmental will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GFL. Aster Capital Management DIFC Ltd purchased a new position in GFL Environmental in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new position in GFL Environmental in the first quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new position in GFL Environmental in the third quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its holdings in GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock valued at $37,000 after buying an additional 219 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock valued at $46,000 after buying an additional 304 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company's core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.

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.