Enerflex (NYSE:EFXT) Shares Up 3.9% - Time to Buy?

Key Points

• Enerflex shares rose 3.9% to approximately $23.26, though trading volume was 86% below the average daily level.
• Analyst sentiment is mixed: the stock has a “Moderate Buy” consensus rating and an average price target of $35.17, but recent firms issued downgrades, including a “Strong Sell” rating from Zacks Research.
• Enerflex’s latest quarterly results fell short of expectations, with EPS of $0.25 versus $0.31 forecast and revenue of $582 million versus $606.78 million expected. The company pays a quarterly dividend of $0.0425 per share, yielding approximately 0.7%.

Enerflex Ltd. (NYSE:EFXT - Get Free Report)'s share price traded up 3.9% during trading on Wednesday . The company traded as high as $23.25 and last traded at $23.2580. Approximately 83,767 shares changed hands during trading, a decline of 86% from the average daily volume of 586,788 shares. The stock had previously closed at $22.39.

Analysts Set New Price Targets

A number of brokerages have recently commented on EFXT. Zacks Research cut Enerflex from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Raymond James Financial upped their price objective on shares of Enerflex from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Wall Street Zen cut Enerflex from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Canadian Imperial Bank of Commerce set a $27.50 price target on shares of Enerflex in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Enerflex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.17.

Enerflex Stock Up 3.0%

The company has a market capitalization of $2.82 billion, a P/E ratio of 53.55 and a beta of 1.84. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a 50 day moving average price of $21.86 and a 200 day moving average price of $23.22.

Enerflex (NYSE:EFXT - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a return on equity of 11.76% and a net margin of 2.06%.The company had revenue of $582.00 million for the quarter, compared to analysts' expectations of $606.78 million. Equities research analysts forecast that Enerflex Ltd. will post 1.34 earnings per share for the current fiscal year.

Enerflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, August 19th. Enerflex's dividend payout ratio (DPR) is currently 27.91%.

Hedge Funds Weigh In On Enerflex

Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enerflex during the 2nd quarter valued at $330,515,000. Bank of America Corp DE purchased a new position in shares of Enerflex in the 2nd quarter worth about $30,569,000. Cibc World Market Inc. bought a new position in Enerflex during the second quarter valued at approximately $15,851,000. TD Asset Management Inc grew its holdings in shares of Enerflex by 31.8% during the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company's stock valued at $33,215,000 after purchasing an additional 518,639 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in shares of Enerflex by 2,060.8% during the fourth quarter. Fiera Capital Corp now owns 536,529 shares of the company's stock valued at $8,274,000 after buying an additional 511,699 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

About Enerflex

Enerflex Ltd. NYSE: EFXT is an energy infrastructure company that designs, engineers, manufactures, and operates equipment and facilities used in the processing, compression, and treatment of natural gas. Its solutions support the development, transportation, and utilization of natural gas and other hydrocarbons across upstream, midstream, and downstream applications.

The company provides natural gas compression, gas processing and treating, refrigeration, power generation, and related equipment and services.

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.