Enerflex (NYSE:EFXT) Upgraded at Wall Street Zen

Key Points

• Enerflex has been upgraded from a "hold" rating to a "strong-buy" rating by analysts at Wall Street Zen, indicating increased investor confidence.
• Several analysts have reaffirmed "outperform" ratings, with Royal Bank of Canada raising the price target from $12.00 to $13.00.
• The company reported strong quarterly earnings of $0.49 per share, surpassing the consensus estimate by $0.42 and showing significant revenue growth.

Wall Street Zen upgraded shares of Enerflex (NYSE:EFXT - Free Report) from a hold rating to a strong-buy rating in a research note published on Saturday morning.

A number of other brokerages have also recently issued reports on EFXT. Raymond James Financial restated an "outperform" rating on shares of Enerflex in a report on Friday. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research report on Friday. Royal Bank Of Canada lifted their price objective on shares of Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, CIBC lowered their price objective on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enerflex has a consensus rating of "Buy" and a consensus price target of $11.13.

Enerflex Price Performance

Enerflex stock traded up $0.04 during mid-day trading on Friday, hitting $9.15. The company's stock had a trading volume of 634,763 shares, compared to its average volume of 385,478. The stock has a market capitalization of $1.12 billion, a P/E ratio of 8.79 and a beta of 2.00. Enerflex has a twelve month low of $5.29 and a twelve month high of $10.61. The stock's fifty day moving average price is $7.93 and its two-hundred day moving average price is $7.76. 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 issued 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. The business had revenue of $615.00 million for the quarter, compared to analysts' expectations of $555.24 million. Enerflex had a return on equity of 10.21% and a net margin of 5.54%. Research analysts forecast that Enerflex will post 0.25 earnings per share for the current year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.0375 per share. This is a boost from Enerflex's previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a dividend yield of 1.6%. Enerflex's payout ratio is currently 9.62%.

Hedge Funds Weigh In On Enerflex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Enerflex in the fourth quarter worth $82,000. D Orazio & Associates Inc. acquired a new position in shares of Enerflex during the second quarter valued at about $80,000. Vise Technologies Inc. acquired a new position in shares of Enerflex during the second quarter valued at about $85,000. Baron Wealth Management LLC raised its position in shares of Enerflex by 31.7% during the second quarter. Baron Wealth Management LLC now owns 15,215 shares of the company's stock valued at $120,000 after buying an additional 3,666 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Enerflex in the first quarter worth about $130,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

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.