GFL Environmental (NYSE:GFL) Price Target Lowered to $56.00 at Citigroup

GFL Environmental (NYSE:GFL) had its target price cut by equities research analysts at Citigroup from $58.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 32.72% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on GFL Environmental in a report on Thursday, November 13th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. raised their target price on GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays began coverage on GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price target for the company. The Goldman Sachs Group began coverage on shares of GFL Environmental in a report on Monday, November 24th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Raymond James Financial set a $57.00 price objective on shares of GFL Environmental and gave the stock an “outperform” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $56.67.

GFL Environmental Trading Down 1.2%

GFL Environmental stock traded down $0.53 during midday trading on Friday, hitting $42.20. 401,806 shares of the stock were exchanged, compared to its average volume of 1,751,734. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 6.62 and a beta of 0.88. The stock’s 50-day simple moving average is $43.88 and its 200 day simple moving average is $46.27. GFL Environmental has a fifty-two week low of $40.83 and a fifty-two week high of $52.00.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.69 billion. GFL Environmental had a net margin of 50.99% and a return on equity of 3.06%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. On average, equities analysts anticipate that GFL Environmental will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GFL. EverSource Wealth Advisors LLC grew its holdings in GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of GFL Environmental by 4.1% during the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after acquiring an additional 256 shares during the last quarter. AGP Franklin LLC increased its position in GFL Environmental by 3.7% during the 2nd quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock worth $375,000 after purchasing an additional 262 shares in the last quarter. Jones Financial Companies Lllp increased its position in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after purchasing an additional 289 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

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.