Scotiabank Forecasts Strong Price Appreciation for GFL Environmental (NYSE:GFL) Stock

GFL Environmental (NYSE:GFL) had its target price upped by equities researchers at Scotiabank from $52.00 to $54.00 in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 13.14% from the stock’s current price.

GFL has been the topic of a number of other research reports. National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Truist Financial boosted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Stifel Nicolaus raised shares of GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, UBS Group lifted their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.25.

GFL Environmental Stock Performance

GFL opened at $47.73 on Tuesday. The stock has a 50-day moving average of $46.33 and a 200-day moving average of $44.36. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. GFL Environmental has a 52-week low of $30.57 and a 52-week high of $49.35. The company has a market cap of $18.78 billion, a PE ratio of -35.89 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. As a group, equities research analysts forecast that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GFL. Blue Trust Inc. lifted its holdings in GFL Environmental by 124.9% during the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of GFL Environmental in the fourth quarter valued at about $27,000. Continuum Advisory LLC boosted its holdings in GFL Environmental by 60.6% in the 3rd 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. Natixis bought a new stake in shares of GFL Environmental in the fourth quarter valued at approximately $49,000. Finally, Harbor Investment Advisory LLC bought a new stake in shares of GFL Environmental during the 1st quarter valued at $53,000. 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.