GFL Environmental (NYSE:GFL) Earns Outperform Rating from Royal Bank of Canada

GFL Environmental (NYSE:GFL)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $53.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 15.82% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup began coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. Scotiabank dropped 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. 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 note on Thursday, November 7th. Truist Financial boosted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.56.

GFL Environmental Stock Performance

Shares of GFL traded down $0.57 during mid-day trading on Monday, reaching $45.76. 182,099 shares of the company’s stock were exchanged, compared to its average volume of 1,674,235. The business’s fifty day simple moving average is $44.44 and its 200-day simple moving average is $43.04. The stock has a market capitalization of $18.00 billion, a PE ratio of -34.41 and a beta of 1.17. GFL Environmental has a 52-week low of $30.57 and a 52-week high of $48.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

Institutional Trading of GFL Environmental

Institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC lifted its position in GFL Environmental by 64.3% during the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after buying an additional 3,999,363 shares in the last quarter. Norges Bank acquired a new stake in GFL Environmental in the 4th quarter valued at $126,420,000. Capital Research Global Investors raised its position in GFL Environmental by 11.4% in the fourth quarter. Capital Research Global Investors now owns 26,973,784 shares of the company’s stock valued at $1,201,406,000 after purchasing an additional 2,751,618 shares during the period. Soros Fund Management LLC grew its stake in shares of GFL Environmental by 487.0% in the third quarter. Soros Fund Management LLC now owns 3,156,327 shares of the company’s stock valued at $125,874,000 after buying an additional 2,618,589 shares in the last quarter. Finally, FMR LLC raised its stake 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 valued at $1,233,223,000 after purchasing an additional 2,506,021 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.