Royal Bank Of Canada Boosts GFL Environmental (NYSE:GFL) Price Target to $60.00

GFL Environmental (NYSE:GFL) had its target price raised by stock analysts at Royal Bank Of Canada from $59.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 38.67% from the company’s previous close.

A number of other brokerages also recently issued reports on GFL. Citigroup lowered their price target on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, January 16th. The Goldman Sachs Group started 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. Weiss Ratings cut GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company began coverage on GFL Environmental in a research report on Thursday, November 13th. They issued an “overweight” rating for the company. Finally, JPMorgan Chase & Co. increased their target price on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock 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 firm has a market cap of $15.54 billion, a price-to-earnings ratio of 6.36 and a beta of 0.88. GFL Environmental has a 52 week low of $40.83 and a 52 week high of $52.00. The business’s 50-day moving average price is $43.21 and its 200 day moving average price is $45.58. 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 (NYSE:GFL) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted ($0.58) earnings per share. GFL Environmental’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in shares of GFL Environmental by 684.5% in the 1st quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock worth $124,000 after acquiring an additional 2,245 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in GFL Environmental by 3.2% in the first 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 buying an additional 14,252 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of 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 last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in GFL Environmental by 10.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,228 shares of the company’s stock valued at $264,000 after purchasing an additional 489 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.