ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Enerflex (TSE:EFX) Stock

Key Points

• ATB Cormark raised Enerflex’s price target to C$56 from C$52 and maintained an “outperform” rating, implying approximately 50.4% upside from the reported share price.
• Analyst sentiment is broadly positive: Enerflex has an average “Buy” rating and a consensus price target of C$38.23, with several firms recently increasing their targets or ratings.
• Enerflex shares fell 4.8% to C$37.23 during Wednesday trading. The company last reported C$0.36 in quarterly EPS on C$826.9 million in revenue, while analysts expect C$0.73 EPS for the current fiscal year.

Enerflex (TSE:EFX - Get Free Report) had its price target increased by equities research analysts at ATB Cormark Capital Markets from C$52.00 to C$56.00 in a report issued on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price points to a potential upside of 50.42% from the stock's current price.

Several other analysts have also recently issued reports on EFX. Raymond James Financial increased their target price on Enerflex from C$49.00 to C$53.00 and gave the company an "outperform" rating in a research report on Wednesday. Acumen Capital boosted their price target on Enerflex from C$42.00 to C$48.00 and gave the stock a "buy" rating in a research report on Friday, October 2nd. National Bank Financial set a C$42.50 price target on Enerflex and gave the stock an "outperform" rating in a research report on Thursday, June 18th. Canadian Imperial Bank of Commerce upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, RBC Dominion Securities upped their price objective on Enerflex from C$33.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$38.23.

Enerflex Stock Down 4.8%

Shares of EFX traded down C$1.88 during mid-day trading on Wednesday, hitting C$37.23. The company's stock had a trading volume of 639,197 shares, compared to its average volume of 733,432. The company has a current ratio of 1.19, a quick ratio of 1.20 and a debt-to-equity ratio of 51.03. The company's 50-day moving average is C$31.15 and its 200-day moving average is C$32.78. Enerflex has a 52-week low of C$14.86 and a 52-week high of C$39.95. The firm has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 84.61 and a beta of 1.87.

Enerflex (TSE:EFX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$826.90 million for the quarter. Enerflex had a net margin of 2.53% and a return on equity of 5.26%. On average, equities research analysts forecast that Enerflex will post 0.73 EPS for the current fiscal year.

About Enerflex

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.