Royal Bank Of Canada Boosts GFL Environmental (NYSE:GFL) Price Target to $59.00

Key Points

• Royal Bank of Canada has raised its price target for GFL Environmental from $56.00 to $59.00, indicating an 18.23% potential upside from the stock's previous close.
• Multiple analysts have shown positive sentiment towards GFL Environmental, with ratings ranging from "buy" to "outperform" and an average consensus price target of $56.71.
• Despite the optimistic outlook, GFL Environmental's stock traded down 0.9% to $49.90 on Friday, with a significant trading volume of 581,517 shares.

GFL Environmental (NYSE:GFL - Get Free Report) had its price objective lifted by Royal Bank Of Canada from $56.00 to $59.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 18.23% from the stock's previous close.

Other analysts have also issued reports about the stock. UBS Group upped their price target on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. initiated coverage on shares of GFL Environmental in a report on Friday, May 23rd. They set a "neutral" rating and a $54.00 price target on the stock. Raymond James Financial restated an "outperform" rating and set a $57.00 price target (up previously from $56.00) on shares of GFL Environmental in a report on Friday, May 2nd. Scotiabank restated an "outperform" rating on shares of GFL Environmental in a report on Monday, May 5th. Finally, Citigroup boosted their price target on shares of GFL Environmental from $53.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of "Buy" and a consensus price target of $56.71.

GFL Environmental Stock Down 0.9%

GFL stock traded down $0.44 during trading on Friday, reaching $49.90. The stock had a trading volume of 581,517 shares, compared to its average volume of 1,684,716. The firm has a fifty day moving average price of $48.96 and a 200 day moving average price of $47.48. The company has a market capitalization of $18.30 billion, a P/E ratio of 7.88 and a beta of 1.03. GFL Environmental has a 1-year low of $37.58 and a 1-year high of $52.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89.

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 for the quarter, meeting analysts' consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.76%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The company's revenue for the quarter was up 5.9% 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.

Institutional Trading of GFL Environmental

Several large investors have recently modified their holdings of GFL. Capital Research Global Investors boosted its holdings 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. FMR LLC boosted its holdings in shares of GFL Environmental by 10.0% during the 4th quarter. FMR LLC now owns 27,664,678 shares of the company's stock worth $1,233,223,000 after buying an additional 2,506,021 shares during the period. American Century Companies Inc. boosted its holdings in shares of GFL Environmental by 87.2% during the 1st quarter. American Century Companies Inc. now owns 4,515,302 shares of the company's stock worth $218,134,000 after buying an additional 2,102,663 shares during the period. Wellington Management Group LLP bought a new stake in shares of GFL Environmental during the 4th quarter worth $93,343,000. Finally, Cohen & Steers Inc. bought a new stake in GFL Environmental in the 4th quarter valued at $51,505,000. 64.70% of the stock is owned by institutional investors.

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.

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