Citigroup Initiates Coverage on GFL Environmental (NYSE:GFL)

Investment analysts at Citigroup assumed coverage on shares of GFL Environmental (NYSE:GFL - Get Free Report) in a note issued to investors on Monday, Marketbeat reports. The firm set a "buy" rating and a $53.00 price target on the stock. Citigroup's price objective would suggest a potential upside of 22.93% from the company's previous close.

Several other research analysts have also recently issued reports on GFL. UBS Group increased their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Scotiabank increased their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the company a "sector outperform" rating in a research note on Friday, November 8th. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the company an "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 company a "buy" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

GFL Environmental Trading Up 2.0 %

GFL stock traded up $0.83 during mid-day trading on Monday, reaching $43.12. The company had a trading volume of 5,442,256 shares, compared to its average volume of 1,959,178. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $16.96 billion, a PE ratio of -32.42 and a beta of 1.17. The firm has a 50 day moving average of $44.77 and a 200 day moving average of $42.15. GFL Environmental has a 12 month low of $30.57 and a 12 month high of $48.87.

GFL Environmental (NYSE:GFL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.49 billion. On average, equities analysts predict that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently modified their holdings of GFL. Fred Alger Management LLC lifted its position in GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company's stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the period. Soros Fund Management LLC lifted its holdings in shares of GFL Environmental by 487.0% during the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company's stock worth $125,874,000 after purchasing an additional 2,618,589 shares during the period. FMR LLC lifted its stake in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company's stock valued at $1,003,591,000 after acquiring an additional 1,728,598 shares during the period. Brown Brothers Harriman & Co. lifted its stake in GFL Environmental by 162.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,271,161 shares of the company's stock valued at $50,694,000 after acquiring an additional 786,044 shares during the period. Finally, Maverick Capital Ltd. lifted its stake in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company's stock valued at $145,889,000 after acquiring an additional 372,534 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

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.