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

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

Analyst Ratings Changes

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

Enerflex Stock Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.93 and a current ratio of 1.27. The stock has a market cap of $828.59 million, a P/E ratio of -8.05 and a beta of 2.01. The company’s 50 day moving average price is $6.09 and its 200-day moving average price is $5.64.

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

Enerflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Thursday, August 22nd were issued a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, August 22nd. Enerflex’s dividend payout ratio (DPR) is currently -8.43%.

Hedge Funds Weigh In On Enerflex

A number of hedge funds and other institutional investors have recently made changes to their positions in EFXT. Acadian Asset Management LLC boosted its holdings in shares of Enerflex by 17,674.4% in the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after buying an additional 15,200 shares during the last quarter. Avidian Wealth Solutions LLC purchased a new position in shares of Enerflex in the 1st quarter worth about $90,000. Fiera Capital Corp boosted its holdings in shares of Enerflex by 117.0% in the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after buying an additional 13,390 shares during the last quarter. Net Worth Advisory Group purchased a new position in shares of Enerflex in the 3rd quarter worth about $146,000. Finally, 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 worth $174,000 after buying an additional 6,325 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.