Enerflex (NYSE:EFXT) Hits New 52-Week High – Here’s Why

Enerflex Ltd. (NYSE:EFXT)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $7.30 and last traded at $7.29, with a volume of 7754 shares trading hands. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price target on shares of Enerflex from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, August 9th.

Enerflex Trading Up 1.7 %

The firm has a market cap of $914.21 million, a price-to-earnings ratio of -8.73 and a beta of 1.89. The business has a 50 day moving average of $6.17 and a 200 day moving average of $5.66. The company has a quick ratio of 0.93, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Enerflex (NYSE:EFXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $614.00 million for the quarter, compared to analyst estimates of $554.20 million. Enerflex had a negative return on equity of 1.86% and a negative net margin of 4.25%. On average, research analysts forecast that Enerflex Ltd. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EFXT. Avidian Wealth Solutions LLC acquired a new position in shares of Enerflex during the 1st quarter valued at about $90,000. 1832 Asset Management L.P. raised its stake in Enerflex by 6.2% during the first quarter. 1832 Asset Management L.P. now owns 8,901,000 shares of the company’s stock worth $51,893,000 after purchasing an additional 516,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Enerflex by 24.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock valued at $174,000 after purchasing an additional 6,325 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Enerflex by 117.0% during the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after buying an additional 13,390 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Enerflex by 1.9% during the 2nd quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock worth $824,000 after buying an additional 2,789 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.