Enerflex (NYSE:EFXT) Hits New 52-Week High – Should You Buy?

Enerflex Ltd. (NYSE:EFXT) shares hit a new 52-week high on Friday . The stock traded as high as $6.84 and last traded at $6.84, with a volume of 36965 shares changing hands. The stock had previously closed at $6.61.

Analysts Set New Price Targets

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

Enerflex Stock Performance

The company has a 50-day moving average price of $6.09 and a two-hundred day moving average price of $5.64. The stock has a market capitalization of $828.59 million, a P/E ratio of -8.05 and a beta of 2.01. 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 announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $554.20 million. Enerflex had a negative net margin of 4.25% and a negative return on equity of 1.86%. Equities analysts expect that Enerflex Ltd. will post 0.19 earnings per share for the current year.

Enerflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Thursday, August 22nd were given a dividend of $0.018 per share. This represents a $0.07 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 22nd. Enerflex’s payout ratio is currently -8.43%.

Institutional Trading of Enerflex

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in shares of Enerflex by 17,674.4% during the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock valued at $81,000 after purchasing an additional 15,200 shares during the period. Avidian Wealth Solutions LLC purchased a new stake in Enerflex in the first quarter worth $90,000. Net Worth Advisory Group purchased a new stake in Enerflex in the third quarter worth $146,000. Fiera Capital Corp lifted its stake in Enerflex by 117.0% in the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after acquiring an additional 13,390 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Enerflex by 24.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock worth $174,000 after acquiring an additional 6,325 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Enerflex

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.