Enerflex (NYSE:EFXT) Hits New 1-Year High - Should You Buy?

Key Points

• Enerflex Ltd. (NYSE:EFXT) reached a new 52-week high of $10.63, reflecting strong trading volume and increased investor interest.
• Analyst ratings have improved, with Wall Street Zen upgrading Enerflex to a "strong-buy" and Royal Bank of Canada raising the target price from $12.00 to $13.00.
• The company reported earnings of $0.49 per share, significantly exceeding expectations and also announced an increase in its quarterly dividend to $0.0375.

Enerflex Ltd. (NYSE:EFXT - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $10.62 and last traded at $10.63, with a volume of 69809 shares changing hands. The stock had previously closed at $10.49.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EFXT. Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Wall Street Zen upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada upped their price objective on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.13.

Enerflex Stock Down 0.3%

The business has a 50-day moving average price of $9.11 and a 200-day moving average price of $7.91. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.32 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.42. Enerflex had a return on equity of 10.21% and a net margin of 5.54%.The company had revenue of $615.00 million for the quarter, compared to analyst estimates of $555.24 million. As a group, equities analysts anticipate that Enerflex Ltd. will post 0.25 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.0375 per share. This is a boost from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. This represents a $0.15 annualized dividend and a dividend yield of 1.4%. Enerflex's dividend payout ratio is currently 9.62%.

Institutional Trading of Enerflex

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Enerflex by 1,046.0% in the 4th quarter. Bank of America Corp DE now owns 391,211 shares of the company's stock worth $3,893,000 after acquiring an additional 357,073 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in shares of Enerflex in the 4th quarter worth approximately $401,000. Lazard Asset Management LLC bought a new stake in shares of Enerflex in the 4th quarter worth approximately $82,000. Millennium Management LLC lifted its position in shares of Enerflex by 1,158.8% in the 4th quarter. Millennium Management LLC now owns 250,786 shares of the company's stock worth $2,495,000 after acquiring an additional 230,864 shares during the period. Finally, Toronto Dominion Bank bought a new stake in shares of Enerflex in the 4th quarter worth approximately $208,000. Institutional investors own 46.47% of the company's stock.

Enerflex Company Profile

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.