GFL Environmental (NYSE:GFL) Given a $51.00 Price Target at Citigroup

GFL Environmental (NYSE:GFL) has been assigned a $51.00 price target by equities research analysts at Citigroup in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 24.25% from the company’s current price.

GFL has been the subject of a number of other reports. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Weiss Ratings downgraded shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on GFL Environmental from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Monday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Finally, Scotiabank decreased their price objective on GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and an average target price of $54.78.

GFL Environmental Price Performance

NYSE GFL traded up $3.56 on Monday, hitting $41.05. 4,777,010 shares of the company were exchanged, compared to its average volume of 2,265,905. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $36.58 and a two-hundred day moving average of $40.53. GFL Environmental has a 1-year low of $33.33 and a 1-year high of $51.51. The company has a market cap of $14.72 billion, a P/E ratio of 128.41, a P/E/G ratio of 2.91 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned ($0.09) earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that GFL Environmental will post 0.54 EPS for the current year.

Hedge Funds Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of GFL Environmental by 148.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,800 shares of the company’s stock worth $66,000 after purchasing an additional 1,075 shares during the period. Parallel Advisors LLC grew its stake in shares of GFL Environmental by 256.9% during the first quarter. Parallel Advisors LLC now owns 1,542 shares of the company’s stock valued at $64,000 after purchasing an additional 1,110 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in shares of GFL Environmental in the 1st quarter valued at $588,000. Bank of America Corp DE raised its position in shares of GFL Environmental by 43.8% in the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock valued at $77,064,000 after purchasing an additional 563,001 shares during the period. Finally, Amundi increased its position in shares of GFL Environmental by 26.4% during the first quarter. Amundi now owns 379,258 shares of the company’s stock valued at $15,823,000 after acquiring an additional 79,270 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.