Royal Bank Of Canada Forecasts Strong Price Appreciation for Enerflex (TSE:EFX) Stock

Key Points

• Royal Bank of Canada raised its price target on Enerflex from C$26.00 to C$31.00 and kept an "outperform" rating, though the C$31 target implies about a 17.33% downside from the stock's previous close.
• Multiple brokers also bumped targets—TD to C$39 (buy), Raymond James and BMO to C$45 (outperform), and National Bank to a strong-buy with C$42.50—resulting in a consensus "Moderate Buy" and a consensus target of C$35.16.
• Enerflex traded at C$37.50 with a market cap of C$4.57B after reporting quarterly EPS of C$0.28 on C$821.97M revenue; the stock carries a P/E of 72.12 and a beta of 2.28.

Enerflex (TSE:EFX - Get Free Report) had its price target hoisted by investment analysts at Royal Bank Of Canada from C$26.00 to C$31.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential downside of 17.33% from the company's previous close.

A number of other research firms also recently issued reports on EFX. TD Securities boosted their price target on Enerflex from C$28.00 to C$39.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Raymond James Financial boosted their price objective on shares of Enerflex from C$40.00 to C$45.00 and gave the company an "outperform" rating in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Enerflex from C$39.00 to C$45.00 in a research report on Friday. Finally, National Bank Financial raised shares of Enerflex from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from C$31.50 to C$42.50 in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$35.16.

Enerflex Stock Performance

Shares of Enerflex stock traded down C$1.24 during trading hours on Friday, reaching C$37.50. 414,225 shares of the stock traded hands, compared to its average volume of 736,601. The company has a 50 day moving average price of C$30.94 and a 200 day moving average price of C$24.62. The firm has a market capitalization of C$4.57 billion, a price-to-earnings ratio of 72.12 and a beta of 2.28. Enerflex has a one year low of C$9.32 and a one year high of C$39.95. The company has a quick ratio of 1.20, a current ratio of 1.13 and a debt-to-equity ratio of 64.41.

Enerflex (TSE:EFX - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported C$0.28 earnings per share (EPS) for the quarter. The business had revenue of C$821.97 million during the quarter. Enerflex had a return on equity of 5.32% and a net margin of 2.49%. On average, equities research analysts expect that Enerflex will post 0.734413 earnings per share for the current fiscal year.

About Enerflex

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company's focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression. Enerflex operates three business segments: the USA, Rest of World, and Canada.

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