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

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

Wall Street Analysts Forecast Growth

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

Enerflex Trading Up 1.1 %

The company has a market cap of $828.59 million, a P/E ratio of -8.18 and a beta of 2.01. The business has a fifty day simple moving average of $6.07 and a 200 day simple moving average of $5.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.93 and a current ratio of 1.27.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings data 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). Enerflex had a negative return on equity of 1.86% and a negative net margin of 4.25%. The firm had revenue of $614.00 million for the quarter, compared to the consensus estimate of $554.20 million. Analysts anticipate that Enerflex Ltd. will post 0.19 earnings per share for the current fiscal year.

Enerflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors 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 dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 22nd. Enerflex's dividend payout ratio is presently -8.43%.

Institutional Investors Weigh In On Enerflex

Several institutional investors and hedge funds have recently bought and sold shares of EFXT. Acadian Asset Management LLC lifted its stake in Enerflex by 17,674.4% in the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company's stock valued at $81,000 after buying an additional 15,200 shares during the last quarter. Avidian Wealth Solutions LLC bought a new stake in Enerflex in the 1st quarter valued at about $90,000. Net Worth Advisory Group acquired a new position in Enerflex during the 3rd quarter valued at about $146,000. Fiera Capital Corp grew its position in 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 purchasing an additional 13,390 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Enerflex by 24.3% in the second 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 period. Institutional investors and hedge funds 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.