GFL Environmental (NYSE:GFL) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded GFL Environmental from a "hold" to a "strong-buy" on Thursday; MarketBeat shows a mixed analyst picture with a consensus of "Moderate Buy" and an average target price of $55.44, alongside recent divergent notes including a JPMorgan downgrade and a Barclays raise.
• Shares opened at $40.47 with a market cap of $14.48 billion and a P/E of 5.95; GFL reported Q results with EPS $0.26 beating the $0.14 estimate while revenue was $1.23 billion, below the $1.67 billion consensus but up 7.3% year-over-year.

GFL Environmental (NYSE:GFL - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on GFL. Scotiabank dropped their price objective on shares of GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 12th. Weiss Ratings cut shares of GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 9th. Barclays raised their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. Citigroup lowered their target price on shares of GFL Environmental from $55.00 to $51.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. downgraded shares of GFL Environmental from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $49.00 to $42.00 in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, GFL Environmental currently has a consensus rating of "Moderate Buy" and an average target price of $55.44.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $40.47 on Thursday. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 5.95, a PEG ratio of 3.56 and a beta of 0.84. GFL Environmental has a 12 month low of $36.96 and a 12 month high of $52.00. The firm's 50-day moving average is $42.25 and its 200 day moving average is $43.39. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned ($0.58) EPS. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts predict that GFL Environmental will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of GFL Environmental by 43.1% during the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock worth $37,000 after purchasing an additional 219 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company's stock worth $310,000 after purchasing an additional 256 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of GFL Environmental by 21.9% during the third quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company's stock worth $75,000 after purchasing an additional 289 shares in the last quarter. Tobam lifted its position in shares of GFL Environmental by 10.5% during the fourth quarter. Tobam now owns 3,079 shares of the company's stock worth $132,000 after purchasing an additional 293 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company's stock worth $46,000 after purchasing an additional 304 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 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.

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