Zacks Research Downgrades Enerflex (NYSE:EFXT) to Hold

Enerflex (NYSE:EFXT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

EFXT has been the topic of several other research reports. Royal Bank Of Canada raised their target price on Enerflex from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Raymond James Financial increased their price objective on Enerflex from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. National Bank Financial raised shares of Enerflex from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 7th. TD Securities reaffirmed a “buy” rating on shares of Enerflex in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Enerflex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Enerflex Stock Performance

NYSE:EFXT opened at $23.06 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a market capitalization of $2.82 billion, a PE ratio of 34.42 and a beta of 1.83. Enerflex has a fifty-two week low of $7.59 and a fifty-two week high of $29.15. The company has a fifty day moving average of $25.56 and a two-hundred day moving average of $21.45.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share 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 analyst estimates of $607.26 million. As a group, research analysts forecast that Enerflex will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in Enerflex by 351.0% during the first quarter. Millennium Management LLC now owns 1,131,144 shares of the company’s stock worth $8,747,000 after purchasing an additional 880,358 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Enerflex by 984.3% in the 1st quarter. NewEdge Advisors LLC now owns 22,791 shares of the company’s stock valued at $176,000 after buying an additional 20,689 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company’s stock valued at $17,031,000 after buying an additional 752,893 shares during the period. Geode Capital Management LLC increased its holdings in shares of Enerflex by 28.1% during the 2nd quarter. Geode Capital Management LLC now owns 83,987 shares of the company’s stock worth $665,000 after buying an additional 18,434 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Enerflex by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 155,243 shares of the company’s stock valued at $1,223,000 after buying an additional 11,920 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.