Enerflex (TSE:EFX) Shares Up 14.4% Following Analyst Upgrade

Enerflex Ltd. (TSE:EFX)’s share price traded up 14.4% during 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. Approximately 470,971 shares traded hands 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.

Several other research analysts have also recently issued reports on EFX. RBC Dominion Securities lifted their target price on Enerflex from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday. Canadian Imperial Bank of Commerce upgraded Enerflex from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Raymond James Financial increased their price target on Enerflex from C$49.00 to C$53.00 and gave the company an “outperform” rating in a research report on Wednesday. National Bank Financial set a C$42.50 price objective on Enerflex and gave the company an “outperform” rating in a research note on Thursday, June 18th. Finally, Acumen Capital raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$38.23.

Enerflex Trading Down 6.3%

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 current ratio of 1.19 and a quick ratio of 1.20. The firm has a fifty day moving average price of C$31.27 and a 200-day moving average price of C$32.83.

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

Enerflex Increases Dividend

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