Enerflex (NYSE:EFXT) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Enerflex (NYSE:EFXT) from a neutral rating to a sector outperform rating in a research report report published on Tuesday morning, Marketbeat reports.

EFXT has been the topic of a number of other reports. Weiss Ratings raised Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a research report on Friday, October 2nd. Zacks Research downgraded shares of Enerflex from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Enerflex from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enerflex currently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

Enerflex Stock Down 4.9%

Shares of NYSE EFXT opened at $24.52 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.19. Enerflex has a 1 year low of $10.57 and a 1 year high of $29.15. The stock’s 50-day simple moving average is $22.41 and its 200-day simple moving average is $23.56. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 23.43 and a beta of 1.80.

Enerflex (NYSE:EFXT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Enerflex had a net margin of 2.06% and a return on equity of 11.76%. The business had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $606.78 million. As a group, equities analysts anticipate that Enerflex will post 1.32 earnings per share for the current fiscal year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of C$0.04 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. Enerflex’s dividend payout ratio (DPR) is presently 27.91%.

Hedge Funds Weigh In On Enerflex

Hedge funds have recently bought and sold shares of the company. Baron Wealth Management LLC increased its holdings in Enerflex by 2.5% in the second quarter. Baron Wealth Management LLC now owns 30,530 shares of the company’s stock valued at $748,000 after buying an additional 751 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Enerflex by 4.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company’s stock worth $502,000 after buying an additional 1,017 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Enerflex in the 2nd quarter worth approximately $30,000. Kathmere Capital Management LLC grew its position in shares of Enerflex by 12.0% in the 1st quarter. Kathmere Capital Management LLC now owns 22,587 shares of the company’s stock worth $473,000 after acquiring an additional 2,422 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Enerflex in the 2nd quarter worth approximately $79,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Enerflex Company Profile

Enerflex Ltd. (NYSE: EFXT) is a global provider of natural gas infrastructure and energy solutions. The company designs, engineers, manufactures, commissions and operates equipment and facilities used to process, compress, treat and transport natural gas and other hydrocarbons.

Its products and services include natural gas compression, gas processing and treating systems, refrigeration and power-generation equipment, and related engineering, procurement and construction services. Enerflex also provides aftermarket support, including parts, maintenance, technical services and contract operations for energy infrastructure.

Headquartered in Calgary, Alberta, Enerflex serves energy producers and infrastructure operators across multiple international markets, including North America, Latin America, the Middle East and Australia.