Enerflex (TSE:EFX) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Enerflex Ltd. (TSE:EFX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.64 and traded as high as C$35.04. Enerflex shares last traded at C$34.43, with a volume of 631,282 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Securities upped their target price on shares of Enerflex from C$28.00 to C$39.00 and gave the stock a “buy” rating in a report on Friday, February 27th. ATB Cormark Capital Markets upped their target price on shares of Enerflex from C$42.00 to C$46.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Raymond James Financial upped their target price on shares of Enerflex from C$40.00 to C$45.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. National Bank Financial raised shares of Enerflex from a “hold” rating to an “outperform” rating and upped their target price for the stock from C$31.50 to C$42.50 in a report on Thursday, May 7th. Finally, Royal Bank Of Canada upped their target price on shares of Enerflex from C$26.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Enerflex has a consensus rating of “Moderate Buy” and an average target price of C$35.16.

Enerflex Price Performance

The firm’s fifty day simple moving average is C$34.27 and its 200 day simple moving average is C$27.85. The firm has a market cap of C$4.09 billion, a P/E ratio of 49.34 and a beta of 2.41. The company has a debt-to-equity ratio of 54.47, a quick ratio of 1.20 and a current ratio of 1.20.

Enerflex (TSE:EFX) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.49 EPS for the quarter. Enerflex had a net margin of 3.63% and a return on equity of 7.72%. The business had revenue of C$811.93 million during the quarter. As a group, analysts forecast that Enerflex Ltd. will post 0.734413 earnings per share for the current year.

Enerflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, June 3rd were given a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Enerflex’s dividend payout ratio is 16.98%.

Insiders Place Their Bets

In other news, insider Gurpreet (Preet) Singh Dhindsa acquired 1,265 shares of Enerflex stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of C$39.00 per share, with a total value of C$49,335.00. Following the transaction, the insider directly owned 5,757 shares of the company’s stock, valued at C$224,523. This trade represents a 28.16% increase in their position. Over the last 90 days, insiders have bought 1,737 shares of company stock valued at $67,558. Corporate insiders own 0.49% of the company’s stock.

Enerflex Company Profile

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.