Royal Bank of Canada Reiterates “Outperform” Rating for GFL Environmental (NYSE:GFL)

GFL Environmental (NYSE:GFL)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They currently have a $53.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 15.82% from the stock’s previous close.

GFL has been the topic of several other reports. Scotiabank cut their target price on GFL Environmental from $51.00 to $50.00 and set a “sector outperform” rating on the stock in a research report on Monday, January 27th. Truist Financial increased their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James upped 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. Citigroup initiated coverage on GFL Environmental in a research report on Monday, January 27th. They set a “buy” rating and a $53.00 price target on the stock. Finally, UBS Group lifted their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.56.

GFL Environmental Stock Down 1.2 %

Shares of GFL stock traded down $0.57 during trading hours on Monday, reaching $45.76. 182,099 shares of the company’s stock were exchanged, compared to its average volume of 1,674,235. GFL Environmental has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. The stock’s 50 day moving average is $44.44 and its 200-day moving average is $43.04. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.00 billion, a price-to-earnings ratio of -34.41 and a beta of 1.17.

Institutional Trading of GFL Environmental

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of GFL Environmental by 10.0% during the fourth quarter. FMR LLC now owns 27,664,678 shares of the company’s stock worth $1,233,223,000 after buying an additional 2,506,021 shares during the period. Capital Research Global Investors lifted its stake in GFL Environmental by 11.4% during the 4th quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock worth $1,201,406,000 after acquiring an additional 2,751,618 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after acquiring an additional 257,486 shares during the period. Fred Alger Management LLC grew its position in GFL Environmental by 1.9% in the 4th quarter. Fred Alger Management LLC now owns 10,411,148 shares of the company’s stock valued at $463,713,000 after acquiring an additional 190,018 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in GFL Environmental by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 8,697,180 shares of the company’s stock worth $387,705,000 after purchasing an additional 217,096 shares during the period. Institutional investors and hedge funds own 64.70% of the company’s stock.

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.