Enerflex (NYSE:EFXT) Stock Rating Upgraded by Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce upgraded Enerflex from “neutral” to “sector outperform,” while analysts’ overall consensus remains “Moderate Buy” with a $36.67 target price.
• Enerflex shares rose $3.09 to $27.17, near their 52-week high of $29.15. The company has a $3.32 billion market capitalization and a P/E ratio of 63.08.
• The company’s latest quarterly results missed expectations, reporting $0.25 in EPS versus the $0.31 consensus and revenue of $582 million versus $606.78 million expected. Institutional investors own 46.47% of the stock.

Enerflex (NYSE:EFXT - Get Free Report) was upgraded by analysts at Canadian Imperial Bank of Commerce from a "neutral" rating to a "sector outperform" rating in a note issued to investors on Tuesday, Briefing.com reports.

A number of other analysts have also recently weighed in on EFXT. Wall Street Zen cut shares of Enerflex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Acumen Capital upgraded shares of Enerflex to a "strong-buy" rating in a research note on Friday, October 2nd. Zacks Research downgraded Enerflex from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Enerflex from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.67.

Enerflex Stock Performance

NYSE EFXT traded up $3.09 during trading on Tuesday, hitting $27.17. The company's stock had a trading volume of 423,497 shares, compared to its average volume of 593,626. Enerflex has a 52 week low of $10.57 and a 52 week high of $29.15. The firm has a market cap of $3.32 billion, a P/E ratio of 63.08 and a beta of 1.80. The firm has a 50 day moving average price of $22.15 and a 200 day moving average price of $23.47. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 0.49.

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

Institutional Trading of Enerflex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Enerflex in the 2nd quarter valued at about $330,515,000. Bank of America Corp DE bought a new position in shares of Enerflex in the second quarter worth about $30,569,000. Cibc World Market Inc. bought a new position in shares of Enerflex in the second quarter worth about $15,851,000. The Manufacturers Life Insurance Company acquired a new position in shares of Enerflex during the second quarter worth approximately $12,082,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of Enerflex during the fourth quarter worth approximately $7,051,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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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