Enerflex (TSE:EFX) Reaches New 12-Month High After Analyst Upgrade

Enerflex Ltd. (TSE:EFX)’s share price 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.

EFX has been the subject of several other research reports. National Bankshares boosted their price objective on Enerflex from C$17.50 to C$24.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. TD Securities lifted their price target on shares of Enerflex from C$19.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Desjardins boosted their price target on shares of Enerflex from C$14.50 to C$17.50 and gave the company a “sector perform” rating in a research note on Monday, October 20th. 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 report on Friday, November 7th. Finally, CIBC raised their price objective on shares of Enerflex from C$11.50 to C$15.25 and gave the company a “neutral” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$20.97.

Insider Activity

In other news, insider Paul Mahoney bought 18,250 shares of Enerflex stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of C$13.70 per share, for a total transaction of C$250,025.00. Following 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 position. 0.49% of the stock is currently owned by insiders.

Enerflex Stock Up 2.2%

The company has a current ratio of 1.19, a quick ratio of 1.20 and a debt-to-equity ratio of 81.27. The firm has a market capitalization of C$2.63 billion, a P/E ratio of 19.64 and a beta of 2.16. The stock’s 50-day simple moving average is C$17.83 and its 200-day simple moving average is C$14.14.

Enerflex (TSE:EFX) last posted its earnings results on Thursday, November 6th. The company reported C$0.30 EPS for the quarter. Enerflex had a negative net margin of 3.72% and a negative return on equity of 8.76%. The firm had revenue of C$1.08 billion for the quarter. As a group, research analysts predict that Enerflex Ltd. will post 0.734413 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, December 1st were given a $0.0425 dividend. This is an increase from Enerflex’s previous quarterly dividend of $0.04. This represents a $0.17 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Enerflex’s payout ratio is presently 9.77%.

Enerflex Company Profile

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.