Scotiabank Issues Positive Forecast for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL) had its price objective increased by investment analysts at Scotiabank from $50.00 to $51.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 12.09% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Raymond James raised their target price on GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. UBS Group lifted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

GFL Environmental Price Performance

GFL opened at $45.50 on Friday. 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 company’s 50-day moving average price is $40.73 and its 200 day moving average price is $38.22. GFL Environmental has a fifty-two week low of $26.87 and a fifty-two week high of $45.69. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of -30.33 and a beta of 1.15.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a positive return on equity of 3.32% and a negative net margin of 8.78%. As a group, sell-side analysts expect that GFL Environmental will post 0.61 earnings per share for the current year.

Institutional Trading of GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of the business. Truist Financial Corp lifted its stake in GFL Environmental by 1.8% in the 2nd quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock worth $602,000 after acquiring an additional 268 shares in the last quarter. Signaturefd LLC increased its holdings in shares of GFL Environmental by 23.5% in the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after purchasing an additional 409 shares during the period. Fifth Third Bancorp lifted its position in shares of GFL Environmental by 51.1% in the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of GFL Environmental by 3.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock worth $838,000 after purchasing an additional 664 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in GFL Environmental by 13.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,795 shares of the company’s stock valued at $234,000 after purchasing an additional 780 shares in the last quarter. Institutional investors and hedge funds 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.