Citigroup Initiates Coverage on GFL Environmental (NYSE:GFL)

Equities research analysts at Citigroup started coverage on shares of GFL Environmental (NYSE:GFL) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $53.00 price target on the stock. Citigroup’s price target would indicate a potential upside of 25.43% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Raymond James raised their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group raised their price target on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank upped their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

GFL Environmental Stock Performance

NYSE:GFL opened at $42.25 on Monday. The firm has a market capitalization of $16.62 billion, a PE ratio of -31.77 and a beta of 1.17. The stock’s fifty day moving average is $44.77 and its 200 day moving average is $42.15. GFL Environmental has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. 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 (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, sell-side analysts anticipate that GFL Environmental will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of GFL Environmental by 124.9% in the 4th quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Berbice Capital Management LLC bought a new position in GFL Environmental in the fourth quarter worth about $27,000. Continuum Advisory LLC raised its holdings in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of GFL Environmental during the third quarter valued at about $60,000. Finally, Avior Wealth Management LLC bought a new stake in shares of GFL Environmental in the 3rd quarter valued at about $82,000. Hedge funds and other 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.