JPMorgan Chase & Co. Initiates Coverage on GFL Environmental (NYSE:GFL)

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental (NYSE:GFL - Get Free Report) in a research report issued on Friday, MarketBeat Ratings reports. The firm set a "neutral" rating and a $54.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 10.65% from the stock's current price.

Other analysts have also recently issued reports about the stock. Seaport Res Ptn raised shares of GFL Environmental to a "strong-buy" rating in a research note on Tuesday, May 6th. Royal Bank of Canada upped their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, May 5th. UBS Group lifted their target price on GFL Environmental from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Raymond James reiterated an "outperform" rating and set a $57.00 price target (up previously from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. Finally, Stifel Nicolaus raised shares of GFL Environmental from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $48.80 on Friday. The company has a 50-day simple moving average of $48.37 and a 200-day simple moving average of $46.15. GFL Environmental has a one year low of $30.57 and a one year high of $52.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -36.69 and a beta of 1.08.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm's revenue was down 13.4% on a year-over-year basis. On average, analysts predict that GFL Environmental will post 0.58 EPS for the current year.

Institutional Trading of GFL Environmental

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company's stock valued at $1,233,223,000 after buying an additional 2,506,021 shares during the last quarter. Capital Research Global Investors grew its position in shares of GFL Environmental by 11.4% during the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company's stock worth $1,201,406,000 after buying an additional 2,751,618 shares during the period. Fred Alger Management LLC grew its position in shares of GFL Environmental by 1.9% during the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company's stock worth $463,713,000 after buying an additional 190,018 shares during the period. Vanguard Group Inc. grew its holdings in shares of GFL Environmental by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,843,436 shares of the company's stock valued at $427,166,000 after buying an additional 146,256 shares during the period. Finally, Royal Bank of Canada grew its position in shares of GFL Environmental by 4.4% in the 1st quarter. Royal Bank of Canada now owns 7,883,481 shares of the company's stock valued at $380,850,000 after purchasing an additional 334,218 shares during the period. 64.70% of the stock is currently owned by institutional investors and hedge funds.

About GFL Environmental

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.