Enerflex (NYSE:EFXT) Shares Gap Up – What’s Next?

by · The Markets Daily

Shares of Enerflex Ltd. (NYSE:EFXT – Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $22.79, but opened at $25.75. Enerflex shares last traded at $26.1110, with a volume of 358,276 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EFXT. Canadian Imperial Bank of Commerce set a $27.50 target price on Enerflex in a report on Monday, August 10th. Zacks Research cut Enerflex from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings downgraded Enerflex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered Enerflex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued 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 a consensus price target of $35.17.

Read Our Latest Research Report on EFXT

Enerflex Price Performance

The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 60.19 and a beta of 1.84. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $21.81 and its 200-day moving average price is $23.28.

Enerflex (NYSE:EFXT – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The business had revenue of $582.00 million during the quarter, compared to analyst estimates of $606.78 million. Enerflex had a net margin of 2.06% and a return on equity of 11.76%. As a group, equities research analysts forecast that Enerflex Ltd. will post 1.34 earnings per share for the current fiscal year.

Enerflex Announces Dividend

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 C$0.04 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.17 dividend on an annualized basis and a yield of 0.7%. Enerflex’s payout ratio is currently 27.91%.

Hedge Funds Weigh In On Enerflex

A number of hedge funds have recently modified their holdings of the business. Wellington Altus USA Inc. acquired a new stake in shares of Enerflex during the 2nd quarter worth about $185,000. Integrated Wealth Concepts LLC acquired a new position in Enerflex in the second quarter valued at about $79,000. TD Waterhouse Canada Inc. lifted its position in Enerflex by 74.7% in the second quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock valued at $13,170,000 after buying an additional 238,574 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Enerflex in the second quarter valued at about $8,500,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Enerflex during the second quarter worth about $4,219,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Enerflex Company Profile

(Get Free Report)

Enerflex Ltd. (NYSE: EFXT) is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.

Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.

Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.

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