Enerflex (TSE:EFX) Stock Jumps 14.4% on Analyst Upgrade

Shares of Enerflex Ltd. (TSE:EFX) shot up 14.4% during mid-day trading on Tuesday after ATB Cormark Capital Markets raised their price target on the stock from C$52.00 to C$56.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. Enerflex traded as high as C$39.38 and last traded at C$39.21. 470,971 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 730,977 shares. The stock had previously closed at C$34.26.

A number of other research analysts also recently weighed in on EFX. Canadian Imperial Bank of Commerce raised Enerflex from a “hold” rating to a “strong-buy” rating in a report on Tuesday. RBC Dominion Securities boosted their price target on Enerflex from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday. Acumen Capital boosted their price target on Enerflex from C$42.00 to C$48.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Raymond James Financial upped their price target on shares of Enerflex from C$49.00 to C$53.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, National Bank Financial set a C$42.50 price objective on shares of Enerflex and gave the stock an “outperform” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Enerflex has an average rating of “Buy” and a consensus price target of C$38.23.

Enerflex Trading Down 6.3%

The stock has a fifty day moving average of C$31.27 and a 200 day moving average of C$32.83. The company has a market capitalization of C$4.48 billion, a P/E ratio of 83.30 and a beta of 1.87. The company has a debt-to-equity ratio of 51.03, a quick ratio of 1.20 and a current ratio of 1.19.

Enerflex (TSE:EFX) last released its earnings results on Thursday, August 6th. The company reported C$0.36 earnings per share for the quarter. Enerflex had a return on equity of 5.26% and a net margin of 2.53%. The company had revenue of C$826.90 million for the quarter. As a group, equities research analysts anticipate that Enerflex Ltd. will post 0.73 EPS for the current fiscal year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were paid a $0.0450 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.5%. This is an increase from Enerflex’s previous quarterly dividend of $0.0425. The ex-dividend date of this dividend was Wednesday, August 19th. Enerflex’s dividend payout ratio is 27.03%.

Enerflex Company Profile

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.