GFL Environmental (NYSE:GFL) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

GFL Environmental (NYSE:GFL) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $42.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.02% from the company’s previous close.

Several other equities research analysts have also issued reports on GFL. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Citigroup cut their target price on shares of GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Scotiabank reduced their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research note on Monday, May 4th. Finally, Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.78.

GFL Environmental Trading Up 5.6%

Shares of GFL stock opened at $39.59 on Monday. GFL Environmental has a 1-year low of $33.33 and a 1-year high of $51.51. The firm’s 50-day simple moving average is $36.58 and its 200-day simple moving average is $40.53. The firm has a market cap of $14.20 billion, a P/E ratio of 123.53, a PEG ratio of 2.91 and a beta of 0.70. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51.

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

Institutional Investors Weigh In On GFL Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 buying an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in GFL Environmental by 9.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock worth $481,125,000 after purchasing an additional 977,344 shares during the last quarter. Vanguard Group Inc. raised its holdings in GFL Environmental by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock worth $479,255,000 after acquiring an additional 97,020 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of GFL Environmental by 2.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock valued at $365,595,000 after buying an additional 185,169 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in GFL Environmental by 40.8% during the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock worth $290,083,000 after buying an additional 1,932,442 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.