GFL Environmental (NYSE:GFL) Coverage Initiated at Scotiabank

Investment analysts at Scotiabank began coverage on shares of GFL Environmental (NYSE:GFL) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “sector outperform” rating and a $50.00 price target on the stock. Scotiabank’s price objective indicates a potential upside of 23.00% from the company’s current price.

GFL has been the topic of a number of other research reports. Raymond James increased their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets downgraded shares of GFL Environmental from an “outperform” rating to a “market perform” rating and cut their target price for the company from $43.00 to $42.00 in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.09.

GFL Environmental Trading Up 2.3 %

NYSE:GFL opened at $40.65 on Friday. GFL Environmental has a 52-week low of $26.87 and a 52-week high of $43.79. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.45. The stock has a fifty day simple moving average of $40.48 and a 200-day simple moving average of $37.11. The company has a market capitalization of $15.30 billion, a PE ratio of 37.99 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. On average, equities research analysts expect that GFL Environmental will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GFL Environmental

A number of institutional investors have recently bought and sold shares of GFL. Capital Research Global Investors boosted its holdings in shares of GFL Environmental by 17.4% in the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock valued at $684,877,000 after purchasing an additional 2,935,811 shares during the last quarter. Vanguard Group Inc. boosted its holdings in GFL Environmental by 9.4% in the first quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock valued at $273,053,000 after acquiring an additional 683,120 shares during the last quarter. Fred Alger Management LLC grew its position in GFL Environmental by 7.1% during the second quarter. Fred Alger Management LLC now owns 6,221,767 shares of the company’s stock valued at $242,213,000 after acquiring an additional 411,128 shares during the period. Millennium Management LLC increased its stake in GFL Environmental by 40.0% during the second quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares during the last quarter. Finally, Maverick Capital Ltd. raised its holdings in shares of GFL Environmental by 22.1% in the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after purchasing an additional 595,259 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

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.