GFL Environmental (NYSE:GFL) Price Target Cut to $50.00 by Analysts at Scotiabank

GFL Environmental (NYSE:GFL) had its price objective dropped by research analysts at Scotiabank from $51.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 15.53% from the stock’s current price.

A number of other equities analysts also recently commented on GFL. Citigroup initiated coverage on shares of GFL Environmental in a research note on Monday. They issued a “buy” rating and a $53.00 price objective for the company. Raymond James upped their price objective on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Truist Financial boosted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $43.28 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock’s fifty day moving average price is $44.77 and its 200-day moving average price is $42.15. The firm has a market cap of $17.03 billion, a P/E ratio of -32.54 and a beta of 1.17. GFL Environmental has a 12 month low of $30.57 and a 12 month high of $48.87.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, equities research analysts expect that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Berbice Capital Management LLC purchased a new stake in GFL Environmental during the 4th quarter valued at about $27,000. Continuum Advisory LLC increased its holdings in shares of GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Spartan Fund Management Inc. purchased a new position in shares of GFL Environmental in the third quarter worth about $60,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of GFL Environmental during the third quarter worth about $82,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.