Enerflex (TSE:EFX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Enerflex shares moved above their 200-day moving average during Friday trading, reaching as high as C$33.38 before last trading at C$32.88. That technical breakout comes with volume of 596,066 shares.
• Analysts remain constructive on the stock, with several firms raising price targets and six analysts rating it a Buy versus two Holds. The consensus rating is Moderate Buy, with a consensus target price of C$35.28.
• The company recently reported C$0.49 EPS on C$811.93 million in revenue for the quarter and also paid a quarterly dividend of C$0.0425 per share. Its annualized dividend is C$0.17, implying a yield of about 0.5%.

Enerflex Ltd. (TSE:EFX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.27 and traded as high as C$33.38. Enerflex shares last traded at C$32.88, with a volume of 596,066 shares traded.

Analysts Set New Price Targets

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

Enerflex Stock Down 0.4%

The stock has a market cap of C$4.01 billion, a P/E ratio of 48.35 and a beta of 2.34. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 54.47. The firm's fifty day moving average is C$35.08 and its 200 day moving average is C$30.27.

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

Enerflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd were given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex's payout ratio is currently 16.98%.

Insiders Place Their Bets

In other Enerflex news, insider Gurpreet (Preet) Singh Dhindsa bought 1,265 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of C$39.00 per share, for a total transaction of C$49,335.00. Following the purchase, the insider directly owned 5,757 shares in the company, valued at C$224,523. This trade represents a 28.16% increase in their ownership of the stock. In the last ninety days, insiders purchased 1,737 shares of company stock worth $67,558. 0.49% of the stock is owned by corporate 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.

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