Wolfe Research Initiates Coverage on GFL Environmental (NYSE:GFL)

Key Points

• Wolfe Research initiated coverage of GFL Environmental with an "outperform" rating; across analysts the stock carries a consensus "Moderate Buy" and an average price target of $56.67.
• GFL's latest quarter delivered $0.26 EPS (beating the $0.14 estimate) but revenue of $1.23 billion missed expectations, and the shares trade at $43.26 (about 24% below the consensus price target) with a P/E of 6.36.
• Institutional ownership is high at 64.7%, with notable inflows such as Goldman Sachs increasing its stake by 94.1% to 714,438 shares, indicating growing institutional interest.

Analysts at Wolfe Research initiated coverage on shares of GFL Environmental (NYSE:GFL - Get Free Report) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set an "outperform" rating on the stock.

A number of other research firms also recently issued reports on GFL. Weiss Ratings downgraded shares of GFL Environmental from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 9th. Scotiabank lowered their price target on shares of GFL Environmental from $57.00 to $56.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on shares of GFL Environmental from $46.75 to $48.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. Citigroup cut their price objective on GFL Environmental from $58.00 to $56.00 and set a "buy" rating for the company in a report on Friday, January 16th. Finally, The Goldman Sachs Group assumed coverage on GFL Environmental in a research report on Monday, November 24th. They set a "neutral" rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, GFL Environmental presently has an average rating of "Moderate Buy" and a consensus price target of $56.67.

GFL Environmental Stock Up 0.1%

Shares of GFL traded up $0.03 during trading hours on Friday, reaching $43.26. The company's stock had a trading volume of 152,922 shares, compared to its average volume of 1,553,488. The company has a 50 day moving average of $43.24 and a two-hundred day moving average of $44.73. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 3.38 and a beta of 0.86. GFL Environmental has a 1-year low of $40.83 and a 1-year high of $52.00.

GFL Environmental (NYSE:GFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the company posted ($0.58) earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that GFL Environmental will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in shares of GFL Environmental by 684.5% in the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company's stock valued at $124,000 after purchasing an additional 2,245 shares during the last quarter. Goldman Sachs Group Inc. increased its position in GFL Environmental by 94.1% during the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company's stock worth $34,514,000 after buying an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GFL Environmental by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company's stock worth $22,171,000 after buying an additional 14,252 shares during the last quarter. Geode Capital Management LLC raised its holdings in GFL Environmental by 11.1% during the second quarter. Geode Capital Management LLC now owns 1,592,253 shares of the company's stock valued at $79,783,000 after buying an additional 158,667 shares in the last quarter. Finally, Compass Financial Services Inc lifted its position in shares of GFL Environmental by 63.0% in the second quarter. Compass Financial Services Inc now owns 820 shares of the company's stock worth $41,000 after buying an additional 317 shares during the last quarter. Institutional investors and hedge funds 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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