Enerflex (NYSE:EFXT) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Enerflex from “hold” to “strong sell,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $35.17.
• Enerflex’s latest quarterly results fell short of expectations, reporting EPS of $0.25 versus $0.31 expected and revenue of $582 million versus the $606.78 million consensus estimate.
• The stock opened at $20.81, with a $2.54 billion market capitalization, while hedge funds and other institutional investors own approximately 46.47% of shares.

Enerflex (NYSE:EFXT - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on EFXT. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce set a $27.50 price target on Enerflex in a research note on Monday. TD Securities reiterated a "buy" rating on shares of Enerflex in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Enerflex from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Finally, National Bank Financial upgraded shares of Enerflex from a "sector perform" rating to an "outperform" rating in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.17.

Enerflex Stock Up 1.5%

EFXT opened at $20.81 on Monday. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 48.40 and a beta of 1.86. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The firm's fifty day moving average is $23.47 and its 200 day moving average is $22.70. Enerflex has a fifty-two week low of $9.11 and a fifty-two week high of $29.15.

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 analysts' consensus estimates of $0.31 by ($0.06). The business had revenue of $582.00 million during the quarter, compared to analysts' expectations of $606.78 million. Enerflex had a return on equity of 11.76% and a net margin of 2.06%. On average, sell-side analysts forecast that Enerflex will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of Enerflex

Several hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in shares of Enerflex by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company's stock valued at $76,327,000 after purchasing an additional 186,649 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock valued at $17,031,000 after purchasing an additional 752,893 shares during the last quarter. TD Asset Management Inc lifted its position in Enerflex by 31.8% during the fourth quarter. TD Asset Management Inc now owns 2,151,660 shares of the company's stock valued at $33,215,000 after purchasing an additional 518,639 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Enerflex by 11.8% in the 4th quarter. Bank of Montreal Can now owns 1,735,826 shares of the company's stock worth $26,761,000 after buying an additional 182,578 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Enerflex by 51.4% in the 1st quarter. Bank of America Corp DE now owns 1,293,472 shares of the company's stock worth $27,059,000 after buying an additional 438,920 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Company Profile

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source