JPMorgan Chase & Co. Boosts GFL Environmental (NYSE:GFL) Price Target to $49.00

GFL Environmental (NYSE:GFL) had its target price raised by analysts at JPMorgan Chase & Co. from $48.00 to $49.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.64% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Citigroup cut their price objective on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, January 16th. Scotiabank cut their price objective on shares of GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Wolfe Research initiated coverage on shares of GFL Environmental in a report on Friday, March 13th. They set an “outperform” rating for the company. Finally, Barclays raised their target price on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.78.

GFL Environmental Trading Down 3.1%

Shares of GFL opened at $43.12 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental has a 1 year low of $38.60 and a 1 year high of $52.00. The company has a 50 day simple moving average of $42.93 and a two-hundred day simple moving average of $43.88. The firm has a market cap of $15.43 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data 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 net margin of 56.61% and a return on equity of 3.66%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted ($0.58) EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of GFL Environmental in the fourth quarter valued at $25,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental in the third quarter valued at $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of GFL Environmental by 45.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in GFL Environmental during the fourth quarter worth $72,000. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

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.