Truist Financial Increases Price Target for GFL Environmental to $54.00

GFL Environmental (NYSE:GFL) has seen its price target raised by Truist Financial, from $46.00 to $54.00, according to a report released to investors on Friday. This adjustment indicates a "buy" rating for the company, suggesting a potential upside of approximately 17.62% from its current price.

In addition to Truist Financial's update, other analysts have also made changes to their price targets for GFL Environmental. Scotiabank set their target price at $51.00, up from $50.00, and maintained a "sector outperform" rating. Raymond James increased their target from $43.00 to $45.00, designating the stock as an "outperform" on July 22nd. Royal Bank of Canada also revised their target price from $46.00 to $48.00, while assigning an "outperform" rating. Meanwhile, UBS Group raised their target to $50.00 from $47.00 with a "buy" recommendation.

Currently, three analysts have assigned a hold rating for GFL Environmental's stock, while seven have rated it as a buy. The consensus rating among analysts stands at "Moderate Buy," with an average price target of $45.30.

Recent Stock Performance

On Friday, GFL Environmental shares opened at $45.91. The company has a debt-to-equity ratio of 1.45 and both its current and quick ratios are 0.89. The stock has demonstrated notable performance, registering a 1-year low of $26.87 and a high of $45.99. Its 50-day moving average stands at $40.73, and the 200-day moving average is at $38.22. GFL Environmental has a market capitalization of $17.29 billion, a price-to-earnings ratio of -30.61, and a beta of 1.15.

GFL Environmental recently posted its earnings results on November 6th. The company reported an earnings per share (EPS) of $0.24, which is above analysts' consensus estimate of $0.23. However, it recorded a negative net margin of 8.78% along with a positive return on equity of 3.32%. Revenue was reported at $1.48 billion, slightly below the expected $1.49 billion.

Institutional Investor Activity

A number of institutional investors have recently been active with GFL Environmental shares. Truist Financial Corp has increased its stake by 1.8% during the second quarter and now owns 15,463 shares worth around $602,000. Signaturefd LLC raised its holdings by 23.5%, owning 2,149 shares valued at $84,000. Fifth Third Bancorp's stake increased by 51.1%, owning 1,358 shares worth $53,000. Additionally, DekaBank Deutsche Girozentrale raised its position by 3.2%, owning 21,597 shares now valued at $838,000. Envestnet Portfolio Solutions Inc. also boosted its holdings by 13%, owning 6,795 shares worth $234,000. Currently, around 64.7% of GFL Environmental's stock is owned by institutional investors and hedge funds.

Company Overview

GFL Environmental Inc. specializes in non-hazardous solid waste management and environmental services across Canada and the United States. The services provided include solid waste management, liquid waste management, and soil remediation, which encompass collection, transportation, transfer, recycling, and disposal for municipal, residential, commercial, and industrial clients.

GFL, Truist, Stock