Enerflex (TSE:EFX) Hits New 1-Year High on Analyst Upgrade

Shares of Enerflex Ltd. (TSE:EFX) hit a new 52-week high during trading on Thursday after Raymond James Financial upgraded the stock from an outperform rating to a strong-buy rating. Raymond James Financial now has a C$25.00 price target on the stock, up from their previous price target of C$24.50. Enerflex traded as high as C$21.60 and last traded at C$21.60, with a volume of 628940 shares trading hands. The stock had previously closed at C$21.13.

Other analysts have also issued reports about the company. CIBC increased their target price on Enerflex from C$11.50 to C$15.25 and gave the stock a “neutral” rating in a report on Friday, November 7th. TD Securities lifted their price target on Enerflex from C$19.00 to C$23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Desjardins boosted their target price on Enerflex from C$14.50 to C$17.50 and gave the stock a “sector perform” rating in a research note on Monday, October 20th. ATB Capital lifted their price target on shares of Enerflex from C$19.50 to C$23.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada upped their price objective on shares of Enerflex from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Enerflex has an average rating of “Moderate Buy” and a consensus price target of C$20.97.

Insider Activity

In related news, insider Paul Mahoney acquired 18,250 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of C$13.70 per share, with a total value of C$250,025.00. Following the completion of the purchase, the insider directly owned 36,500 shares in the company, valued at C$500,050. The trade was a 100.00% increase in their ownership of the stock. 0.49% of the stock is owned by company insiders.

Enerflex Stock Performance

The company has a debt-to-equity ratio of 81.27, a current ratio of 1.19 and a quick ratio of 1.20. The stock has a fifty day simple moving average of C$17.83 and a two-hundred day simple moving average of C$14.14. The firm has a market capitalization of C$2.63 billion, a P/E ratio of 19.64 and a beta of 2.16.

Enerflex (TSE:EFX) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.30 EPS for the quarter. The company had revenue of C$1.08 billion during the quarter. Enerflex had a negative net margin of 3.72% and a negative return on equity of 8.76%. On average, research analysts predict that Enerflex Ltd. will post 0.734413 EPS for the current year.

Enerflex Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, December 1st were issued a $0.0425 dividend. The ex-dividend date was Monday, November 17th. This is a positive change from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 dividend on an annualized basis and a yield of 0.8%. Enerflex’s dividend payout ratio is 9.77%.

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.