Enerflex (NYSE:EFXT) Shares Down 6.3% – Time to Sell?

Enerflex Ltd. (NYSE:EFXT)’s stock price traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as $25.39 and last traded at $25.3820. 198,141 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 600,057 shares. The stock had previously closed at $27.08.

Analyst Ratings Changes

Several equities research analysts have commented on EFXT shares. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a research report on Friday, May 8th. Raymond James Financial downgraded shares of Enerflex from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, February 3rd. Wall Street Zen cut shares of Enerflex from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Royal Bank Of Canada upped their target price on shares of Enerflex from $26.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Enerflex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Enerflex Trading Down 6.5%

The firm has a market cap of $3.09 billion, a PE ratio of 37.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.89. The business has a 50-day moving average price of $23.98 and a two-hundred day moving average price of $19.26.

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

Enerflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th will be given a $0.0425 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. Enerflex’s dividend payout ratio is currently 17.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EFXT. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enerflex by 0.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,735,102 shares of the company’s stock valued at $61,841,000 after buying an additional 36,477 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Enerflex by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,878,942 shares of the company’s stock valued at $76,327,000 after acquiring an additional 186,649 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Enerflex by 435.9% in the third quarter. Hillsdale Investment Management Inc. now owns 4,701,464 shares of the company’s stock valued at $50,695,000 after acquiring an additional 3,824,093 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Enerflex by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after acquiring an additional 752,893 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Enerflex by 31.8% during the 4th quarter. TD Asset Management Inc now owns 2,151,660 shares of the company’s stock worth $33,215,000 after purchasing an additional 518,639 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Company Profile

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.