Enerflex (TSE:EFX) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Enerflex shares crossed above their 200-day moving average, reaching C$31.27 before last trading at C$29.74, while daily trading volume exceeded 1.1 million shares.
• Analysts remain broadly positive, with six Buy ratings and two Holds, an average “Moderate Buy” rating, and a consensus price target of C$35.28. Several brokerages recently raised their targets to between C$45.00 and C$47.00.
• Enerflex reported quarterly revenue of C$811.93 million and earnings of C$0.49 per share, while maintaining a quarterly dividend of C$0.0425 per share, equivalent to a 0.6% annual yield.

Enerflex Ltd. (TSE:EFX - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.96 and traded as high as C$31.27. Enerflex shares last traded at C$29.74, with a volume of 1,130,162 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EFX. Royal Bank Of Canada lifted their price objective on Enerflex from C$26.00 to C$31.00 and gave the company an "outperform" rating in a report on Friday, May 8th. BMO Capital Markets upped their target price on shares of Enerflex from C$39.00 to C$45.00 in a report on Friday, May 8th. Raymond James Financial increased their target price on shares of Enerflex from C$40.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. National Bank Financial set a C$42.50 price target on shares of Enerflex and gave the company an "outperform" rating in a report on Thursday, June 18th. Finally, ATB Cormark Capital Markets boosted their price target on shares of Enerflex from C$46.00 to C$47.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Enerflex has an average rating of "Moderate Buy" and an average price target of C$35.28.

Enerflex Stock Down 3.0%

The company has a debt-to-equity ratio of 54.47, a quick ratio of 1.20 and a current ratio of 1.20. The firm's 50-day moving average is C$34.18 and its two-hundred day moving average is C$30.96. The stock has a market cap of C$3.63 billion, a P/E ratio of 43.74 and a beta of 2.34.

Enerflex (TSE:EFX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C$0.49 EPS for the quarter. Enerflex had a return on equity of 7.72% and a net margin of 3.63%.The company had revenue of C$811.93 million during the quarter. On average, equities research analysts anticipate that Enerflex Ltd. will post 0.734413 earnings per share for the current year.

Enerflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.0425 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.17 dividend on an annualized basis and a yield of 0.6%. Enerflex's dividend payout ratio is presently 16.98%.

Insider Activity

In other Enerflex news, insider Gurpreet (Preet) Singh Dhindsa bought 1,265 shares of Enerflex stock in a transaction dated Friday, May 8th. The shares were bought at an average price of C$39.00 per share, with a total value of C$49,335.00. Following the purchase, the insider owned 5,757 shares of the company's stock, valued at C$224,523. This trade represents a 28.16% increase in their ownership of the stock. Over the last 90 days, insiders have bought 1,737 shares of company stock valued at $67,558. 0.49% of the stock is currently owned by company insiders.

About Enerflex

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.

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.