Brokerages Set GFL Environmental Inc. (NYSE:GFL) Target Price at $56.67

GFL Environmental Inc. (NYSE:GFL) has earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $56.6667.

GFL has been the subject of several research analyst reports. Weiss Ratings lowered shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Wells Fargo & Company assumed coverage on GFL Environmental in a report on Thursday, November 13th. They set an “overweight” rating on the stock. Scotiabank lowered their price target on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group initiated coverage on shares of GFL Environmental in a research note on Monday, November 24th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Barclays increased their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds have recently added to or reduced their stakes in GFL. Jones Financial Companies Lllp increased its holdings in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after purchasing an additional 2,245 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in GFL Environmental by 94.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after buying an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in GFL Environmental by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after acquiring an additional 14,252 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in GFL Environmental by 28.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,783 shares of the company’s stock valued at $695,000 after acquiring an additional 3,063 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in GFL Environmental by 10.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,228 shares of the company’s stock worth $264,000 after acquiring an additional 489 shares during the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

GFL Environmental Trading Up 0.3%

NYSE:GFL opened at $43.46 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.69 and a debt-to-equity ratio of 1.05. GFL Environmental has a 1-year low of $40.83 and a 1-year high of $52.00. The firm has a market capitalization of $15.61 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 3.29 and a beta of 0.88. The business’s 50-day moving average price is $43.13 and its two-hundred day moving average price is $45.42.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.GFL Environmental’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) EPS. On average, equities analysts expect that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Tuesday, January 13th. GFL Environmental’s payout ratio is currently 0.88%.

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.