JPMorgan Chase & Co. Boosts GFL Environmental (NYSE:GFL) Price Target to $49.00

Key Points

• JPMorgan Chase raised its price target on GFL from $48 to $49 while maintaining a "neutral" rating, suggesting roughly a 13.7% upside from the prior close.
• GFL beat quarterly EPS estimates ($0.26 vs. $0.14) but missed revenue expectations ($1.23B vs. $1.67B); the stock trades near $43.11 with a P/E of 6.33 and an average analyst target of $56.78 (consensus "Moderate Buy").

GFL Environmental (NYSE:GFL - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $48.00 to $49.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 13.66% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Weiss Ratings downgraded GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 9th. Royal Bank Of Canada lifted their price objective on GFL Environmental from $59.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 12th. Scotiabank reduced their price objective on GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 12th. Barclays lifted their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. Finally, Citigroup reduced their price objective on GFL Environmental from $58.00 to $56.00 and set a "buy" rating for the company in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.78.

GFL Environmental Price Performance

Shares of NYSE GFL traded down $1.40 during mid-day trading on Friday, reaching $43.11. The company had a trading volume of 741,816 shares, compared to its average volume of 1,618,677. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.05. The stock has a market cap of $15.43 billion, a PE ratio of 6.33, a P/E/G ratio of 3.41 and a beta of 0.84. The company has a 50-day moving average price of $42.93 and a two-hundred day moving average price of $43.91. GFL Environmental has a 1-year low of $38.60 and a 1-year high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted ($0.58) earnings per share. GFL Environmental's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently made changes to their positions in GFL. Aster Capital Management DIFC Ltd acquired a new position in shares of GFL Environmental during the 4th quarter worth about $25,000. Sunbelt Securities Inc. acquired a new position in shares of GFL Environmental during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its position in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company's stock worth $37,000 after purchasing an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of GFL Environmental by 45.2% during the 3rd 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 during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of GFL Environmental during the 4th quarter worth about $72,000. Institutional investors and hedge funds own 64.70% of the company's stock.

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.