Scotiabank Cuts GFL Environmental (NYSE:GFL) Price Target to $50.00

GFL Environmental (NYSE:GFL) had its price target cut by investment analysts at Scotiabank from $51.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 15.53% from the company’s previous close.

Several other analysts have also commented on the stock. UBS Group raised their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Raymond James lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial increased their price target on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Citigroup started coverage on GFL Environmental in a research report on Monday. They issued a “buy” rating and a $53.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

GFL Environmental Price Performance

Shares of GFL opened at $43.28 on Monday. The company has a market capitalization of $17.03 billion, a P/E ratio of -32.54 and a beta of 1.17. The business’s 50-day moving average is $44.77 and its two-hundred day moving average is $42.15. 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 fifty-two week low of $30.57 and a fifty-two week high of $48.87.

GFL Environmental (NYSE:GFL) last announced its quarterly 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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Research analysts predict that GFL Environmental will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in GFL Environmental by 21.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 126,693 shares of the company’s stock valued at $4,932,000 after buying an additional 22,481 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of GFL Environmental by 23.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 731,556 shares of the company’s stock valued at $28,479,000 after buying an additional 137,845 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of GFL Environmental during the 2nd quarter worth approximately $310,000. Squarepoint Ops LLC purchased a new stake in shares of GFL Environmental during the 2nd quarter valued at approximately $220,000. Finally, Toronto Dominion Bank lifted its holdings in GFL Environmental by 17.4% in the second quarter. Toronto Dominion Bank now owns 87,085 shares of the company’s stock valued at $3,390,000 after acquiring an additional 12,933 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.