Scotiabank Lowers GFL Environmental (NYSE:GFL) Price Target to $56.00

GFL Environmental (NYSE:GFL) had its price objective decreased by equities researchers at Scotiabank from $57.00 to $56.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 29.43% from the company’s previous close.

A number of other research firms also recently weighed in on GFL. Weiss Ratings downgraded GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. The Goldman Sachs Group began coverage on GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 target price on the stock. UBS Group increased their target price on GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wells Fargo & Company began coverage on shares of GFL Environmental in a research note on Thursday, November 13th. They set an “overweight” rating for the company. Finally, Barclays upped their price objective on shares of GFL Environmental from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Stock Up 4.7%

GFL Environmental stock opened at $43.27 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. GFL Environmental has a 12-month low of $40.83 and a 12-month high of $52.00. The firm’s fifty day moving average is $43.21 and its 200 day moving average is $45.58. The company has a market capitalization of $15.54 billion, a PE ratio of 6.36 and a beta of 0.88.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that GFL Environmental will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock worth $939,043,000 after purchasing an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of GFL Environmental by 9.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock worth $481,125,000 after buying an additional 977,344 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of GFL Environmental by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after buying an additional 97,020 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of GFL Environmental by 2.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock valued at $365,595,000 after acquiring an additional 185,169 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of GFL Environmental by 40.8% during the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after acquiring an additional 1,932,442 shares during the last quarter. 64.70% of the stock is owned by institutional investors.

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.