Enerflex (TSE:EFX) Shares Pass Above 200-Day Moving Average - Here's What Happened

Enerflex Ltd. (TSE:EFX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.09 and traded as high as C$11.98. Enerflex shares last traded at C$11.34, with a volume of 1,059,713 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Securities upped their price target on shares of Enerflex from C$12.00 to C$15.00 and gave the company a "buy" rating in a research report on Friday, November 15th. BMO Capital Markets upped their target price on shares of Enerflex from C$11.00 to C$15.00 in a report on Friday, November 15th. Raymond James increased their price target on shares of Enerflex from C$17.00 to C$17.75 in a research report on Friday. Acumen Capital boosted their price objective on shares of Enerflex from C$12.00 to C$15.00 in a research report on Friday, November 15th. Finally, ATB Capital lifted their target price on Enerflex from C$15.00 to C$17.00 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$13.97.

Enerflex Stock Down 4.1 %

The company has a debt-to-equity ratio of 81.27, a current ratio of 1.19 and a quick ratio of 1.20. The company has a 50-day moving average price of C$13.78 and a 200 day moving average price of C$11.20. The firm has a market capitalization of C$1.31 billion, a PE ratio of -11.41 and a beta of 1.71.

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Enerflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 24th will be paid a $0.0375 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.15 annualized dividend and a yield of 1.43%. Enerflex's payout ratio is -10.86%.

Insider Buying and Selling at Enerflex

In other news, Director Joanne Linette Cox bought 2,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of C$13.65 per share, for a total transaction of C$34,115.00. In the last ninety days, insiders have purchased 2,920 shares of company stock worth $38,874. Insiders own 0.49% 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.