Enerflex (NYSE:EFXT) Raised to Strong-Buy at Zacks Research

Key Points

• Enerflex has been upgraded to a "strong-buy" rating by Zacks Research, indicating increasing investor confidence in the company's stock.
• Royal Bank of Canada raised its price target for Enerflex shares from $13.00 to $15.00, reflecting positive outlooks from multiple analysts.
• The company reported a significant earnings beat in its last quarter, with earnings per share of $0.49, surpassing the consensus estimate by $0.42.

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

EFXT has been the topic of a number of other reports. Royal Bank Of Canada increased their price objective on shares of Enerflex from $13.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Enerflex in a research report on Saturday, September 27th. Finally, Wall Street Zen raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.13.

Enerflex Price Performance

Shares of EFXT opened at $11.56 on Monday. Enerflex has a fifty-two week low of $6.18 and a fifty-two week high of $11.61. The firm's 50 day moving average price is $10.00 and its 200 day moving average price is $8.29. The company has a market cap of $1.41 billion, a P/E ratio of 11.12 and a beta of 2.01. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65.

Enerflex (NYSE:EFXT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.42. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. The firm had revenue of $615.00 million for the quarter, compared to the consensus estimate of $555.24 million. On average, research analysts forecast that Enerflex will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Enerflex

Several hedge funds have recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its stake in shares of Enerflex by 6.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,509,600 shares of the company's stock worth $59,251,000 after acquiring an additional 454,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Enerflex by 42.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,282,450 shares of the company's stock valued at $48,555,000 after purchasing an additional 1,863,470 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Enerflex by 8.6% in the first quarter. Mackenzie Financial Corp now owns 4,977,243 shares of the company's stock valued at $38,459,000 after purchasing an additional 394,496 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Enerflex by 51.9% in 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 period. Finally, Acadian Asset Management LLC lifted its stake in shares of Enerflex by 29.0% in the second quarter. Acadian Asset Management LLC now owns 2,072,660 shares of the company's stock valued at $16,312,000 after purchasing an additional 466,535 shares during the period. Institutional investors and hedge funds own 46.47% of the company's stock.

About Enerflex

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.

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