Royal Bank Of Canada Forecasts Strong Price Appreciation for Enerflex (NYSE:EFXT) Stock

Key Points

• Royal Bank of Canada raised its price target for Enerflex (NYSE: EFXT) stock from $12.00 to $13.00, indicating a potential upside of 45.01%.
• Enerflex's recent quarterly earnings showed an EPS of $0.49, significantly beating analysts' expectations of $0.07 with revenue of $615.00 million.
• Several institutional investors, including JPMorgan Chase & Co. and Bank of Montreal, have increased their holdings in Enerflex, reflecting growing confidence in the company.

Enerflex (NYSE:EFXT - Get Free Report) had its price target upped by research analysts at Royal Bank Of Canada from $12.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 45.01% from the stock's current price.

Several other research firms have also recently weighed in on EFXT. CIBC reduced their price target on shares of Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a report on Friday, May 9th. Wall Street Zen cut Enerflex from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research note on Friday.

Enerflex Price Performance

Shares of NYSE:EFXT traded up $0.08 during midday trading on Friday, reaching $8.97. 147,201 shares of the company's stock were exchanged, compared to its average volume of 381,798. The firm has a market capitalization of $1.10 billion, a PE ratio of 15.19 and a beta of 2.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.83 and a current ratio of 1.12. Enerflex has a 12 month low of $5.29 and a 12 month high of $10.61. The company's 50 day simple moving average is $7.89 and its two-hundred day simple moving average is $7.80.

Enerflex (NYSE:EFXT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.42. Enerflex had a return on equity of 5.23% and a net margin of 3.18%. The business had revenue of $615.00 million during the quarter, compared to the consensus estimate of $555.24 million. Equities research analysts expect that Enerflex will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enerflex

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Enerflex by 28.0% in the fourth quarter. JPMorgan Chase & Co. now owns 99,550 shares of the company's stock worth $991,000 after purchasing an additional 21,801 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Enerflex by 54.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 25,102 shares of the company's stock valued at $250,000 after purchasing an additional 8,870 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Enerflex by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock worth $642,000 after purchasing an additional 2,828 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Enerflex in the 4th quarter worth about $185,000. Finally, Bank of Montreal Can lifted its stake in Enerflex by 44.4% during the 4th quarter. Bank of Montreal Can now owns 705,114 shares of the company's stock valued at $7,010,000 after acquiring an additional 216,839 shares in the last quarter. 46.47% of the stock is owned by 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.

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