Citigroup Forecasts Strong Price Appreciation for GFL Environmental (NYSE:GFL) Stock

GFL Environmental (NYSE:GFL) had its price target raised by equities research analysts at Citigroup from $51.00 to $52.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s target price suggests a potential upside of 13.02% from the company’s previous close.

Several other analysts have also commented on GFL. Weiss Ratings raised GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Scotiabank increased their price objective on GFL Environmental from $55.00 to $56.00 and gave the stock a “sector outperform” rating in a research note on Friday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Monday, August 31st. Jefferies Financial Group restated a “buy” rating on shares of GFL Environmental in a research note on Friday. Finally, BMO Capital Markets restated a “market perform” rating on shares of GFL Environmental in a research report on Thursday, October 15th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.89.

GFL Environmental Price Performance

Shares of NYSE:GFL traded up $0.80 during midday trading on Monday, reaching $46.01. 984,207 shares of the company’s stock were exchanged, compared to its average volume of 2,647,949. The company’s 50 day simple moving average is $42.71 and its two-hundred day simple moving average is $40.83. The firm has a market capitalization of $16.60 billion, a PE ratio of -58.21, a price-to-earnings-growth ratio of 3.46 and a beta of 0.68. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $46.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.75 and a current ratio of 0.93.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, October 28th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. GFL Environmental had a negative net margin of 4.93% and a positive return on equity of 3.84%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts expect that GFL Environmental will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently made changes to their positions in GFL. QV Investors Inc. bought a new position in GFL Environmental in the third quarter valued at approximately $44,887,000. Bank of America Corp DE increased its holdings 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 worth $77,064,000 after acquiring an additional 563,001 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in GFL Environmental by 68.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,158,643 shares of the company’s stock worth $48,309,000 after purchasing an additional 471,935 shares in the last quarter. Advent International L.P. increased its position in shares of GFL Environmental by 117.1% during the first quarter. Advent International L.P. now owns 823,010 shares of the company’s stock worth $34,336,000 after acquiring an additional 443,918 shares in the last quarter. Finally, Verbena Value LP increased its holdings in GFL Environmental by 44.7% during the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock worth $50,527,000 after purchasing an additional 374,000 shares in the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Company Profile

GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company’s operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.