Enerflex (NYSE:EFXT) Sets New 52-Week High - Time to Buy?

Enerflex Ltd. (NYSE:EFXT - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $7.30 and last traded at $7.29, with a volume of 7754 shares changing hands. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

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

Enerflex Stock Up 0.8 %

The business has a fifty day moving average price of $6.20 and a two-hundred day moving average price of $5.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 0.93. The firm has a market capitalization of $906.77 million, a price-to-earnings ratio of -8.81 and a beta of 1.89.

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

Hedge Funds Weigh In On Enerflex

Several hedge funds and other institutional investors have recently made changes to their positions in EFXT. Clearbridge Investments LLC grew its stake in Enerflex by 16.3% during the 2nd quarter. Clearbridge Investments LLC now owns 567,366 shares of the company's stock worth $3,064,000 after purchasing an additional 79,419 shares in the last quarter. Marshall Wace LLP lifted its stake in Enerflex by 183.4% in the second quarter. Marshall Wace LLP now owns 218,505 shares of the company's stock valued at $1,180,000 after buying an additional 141,393 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Enerflex in the third quarter valued at approximately $730,000. The Manufacturers Life Insurance Company raised its stake in shares of Enerflex by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 179,088 shares of the company's stock worth $965,000 after purchasing an additional 7,700 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of 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 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.