Enerflex (NYSE:EFXT) Stock Price Target Raised at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised Enerflex’s price target from $27.50 to $30.00 while maintaining a neutral rating, implying roughly 20% upside from the current price. The broader analyst consensus remains “Moderate Buy,” with an average target of $36.00.
• Enerflex shares fell 2.0% to $24.93, while the company’s latest quarterly results missed expectations: adjusted earnings were $0.25 per share versus the $0.31 consensus, and revenue was $582 million versus $606.78 million expected.
• Institutional investors own 46.47% of Enerflex, with TD Waterhouse Canada increasing its stake by 74.7% during the second quarter.

Enerflex (NYSE:EFXT - Get Free Report) had its target price hoisted by stock analysts at Canadian Imperial Bank of Commerce from $27.50 to $30.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Canadian Imperial Bank of Commerce's price target would suggest a potential upside of 20.31% from the stock's current price.

Several other brokerages have also recently weighed in on EFXT. Weiss Ratings cut Enerflex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Zacks Research cut Enerflex from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Finally, Wall Street Zen lowered Enerflex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Enerflex Trading Down 2.0%

Shares of EFXT stock traded down $0.51 on Friday, hitting $24.93. 181,275 shares of the company's stock traded hands, compared to its average volume of 595,694. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 57.99 and a beta of 1.80. The company's fifty day simple moving average is $21.84 and its 200 day simple moving average is $23.32. Enerflex has a one year low of $10.57 and a one year high of $29.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a return on equity of 11.76% and a net margin of 2.06%.The business had revenue of $582.00 million during the quarter, compared to the consensus estimate of $606.78 million. Equities analysts forecast that Enerflex will post 1.34 EPS for the current year.

Institutional Investors Weigh In On Enerflex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Altus USA Inc. purchased a new position in Enerflex during the 2nd quarter valued at about $185,000. Integrated Wealth Concepts LLC bought a new stake in shares of Enerflex in the 2nd quarter worth approximately $79,000. TD Waterhouse Canada Inc. grew its stake in shares of Enerflex by 74.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company's stock worth $13,170,000 after buying an additional 238,574 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Enerflex in the 2nd quarter worth approximately $8,500,000. Finally, Public Employees Retirement System of Ohio bought a new position in Enerflex during the 2nd quarter valued at approximately $4,219,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Enerflex

Enerflex Ltd. NYSE: EFXT is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.

Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.

Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.

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