Brokerages Set Enerflex Ltd. (NYSE:EFXT) Price Target at $29.50

Shares of Enerflex Ltd. (NYSE:EFXT) have received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.50.

EFXT has been the topic of several recent analyst reports. TD Securities reaffirmed a “buy” rating on shares of Enerflex in a research report on Friday, May 8th. Royal Bank Of Canada upped their price objective on Enerflex from $26.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Zacks Research raised Enerflex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, National Bank Financial raised Enerflex from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 7th.

Institutional Investors Weigh In On Enerflex

A number of institutional investors have recently bought and sold shares of EFXT. Bank of America Corp DE lifted its position in shares of Enerflex by 51.4% in the first quarter. Bank of America Corp DE now owns 1,293,472 shares of the company’s stock valued at $27,059,000 after acquiring an additional 438,920 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Enerflex by 141.8% during the first quarter. The Manufacturers Life Insurance Company now owns 423,361 shares of the company’s stock worth $8,848,000 after purchasing an additional 248,303 shares in the last quarter. Lazard Asset Management LLC raised its stake in Enerflex by 32.4% during the 1st quarter. Lazard Asset Management LLC now owns 382,333 shares of the company’s stock valued at $7,999,000 after purchasing an additional 93,545 shares during the period. Renaissance Technologies LLC raised its stake in Enerflex by 4.5% during the 1st quarter. Renaissance Technologies LLC now owns 212,200 shares of the company’s stock valued at $4,439,000 after purchasing an additional 9,100 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Enerflex by 21.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 408,015 shares of the company’s stock worth $8,506,000 after purchasing an additional 70,818 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Stock Up 0.6%

EFXT stock opened at $27.35 on Friday. The business has a 50 day moving average of $23.73 and a 200 day moving average of $19.01. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The firm has a market cap of $3.34 billion, a PE ratio of 40.81 and a beta of 1.93. Enerflex has a twelve month low of $6.76 and a twelve month high of $29.15.

Enerflex (NYSE:EFXT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Enerflex had a net margin of 3.19% and a return on equity of 14.53%. The company had revenue of $584.00 million for the quarter, compared to the consensus estimate of $607.26 million. On average, research analysts forecast that Enerflex will post 1.68 EPS for the current fiscal year.

Enerflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be given a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, May 20th. Enerflex’s dividend payout ratio is presently 19.40%.

About Enerflex

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.