Royal Bank of Canada Forecasts Strong Price Appreciation for Enerflex (NYSE:EFXT) Stock

Enerflex (NYSE:EFXT) had its target price raised by investment analysts at Royal Bank of Canada from $9.00 to $12.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 43.54% from the stock’s previous close.

Enerflex Price Performance

Enerflex stock traded up $0.37 during trading hours on Friday, hitting $8.36. 99,851 shares of the stock were exchanged, compared to its average volume of 180,427. 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 capitalization of $1.04 billion, a P/E ratio of -10.07 and a beta of 1.89. Enerflex has a 12 month low of $4.01 and a 12 month high of $8.42. The business’s 50-day moving average is $6.38 and its two-hundred day moving average is $5.74.

Institutional Trading of Enerflex

Several large investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. grew its stake in Enerflex by 16.1% during the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock worth $55,819,000 after buying an additional 1,435,900 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Enerflex by 57.9% during the second quarter. Mackenzie Financial Corp now owns 4,380,143 shares of the company’s stock worth $23,631,000 after purchasing an additional 1,606,236 shares in the last quarter. Taconic Capital Advisors LP lifted its position in shares of Enerflex by 35.6% during the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock worth $10,559,000 after purchasing an additional 465,000 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its position in shares of Enerflex by 14.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock worth $7,376,000 after purchasing an additional 152,990 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Enerflex by 3.0% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,036,274 shares of the company’s stock worth $6,175,000 after purchasing an additional 29,830 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

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.