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

Enerflex (NYSE:EFXT) had its price target lifted by equities researchers at Royal Bank of Canada from $9.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 43.54% from the company’s current price.

Enerflex Stock Performance

Shares of NYSE:EFXT traded up $0.37 on Friday, hitting $8.36. 99,851 shares of the company were exchanged, compared to its average volume of 180,427. The company’s 50 day moving average price is $6.38 and its two-hundred day moving average price is $5.74. Enerflex has a one year low of $4.01 and a one year high of $8.42. 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 firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.07 and a beta of 1.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EFXT. Mackenzie Financial Corp increased its holdings in shares of Enerflex by 57.9% during the 2nd 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 during the period. 1832 Asset Management L.P. increased its stake in Enerflex by 16.1% in the second quarter. 1832 Asset Management L.P. now owns 10,336,900 shares of the company’s stock valued at $55,819,000 after acquiring an additional 1,435,900 shares during the period. Taconic Capital Advisors LP increased its stake in Enerflex by 35.6% in the third quarter. Taconic Capital Advisors LP now owns 1,771,800 shares of the company’s stock valued at $10,559,000 after acquiring an additional 465,000 shares during the period. PCJ Investment Counsel Ltd. increased its stake in Enerflex by 14.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,237,750 shares of the company’s stock valued at $7,376,000 after acquiring an additional 152,990 shares during the period. Finally, Marshall Wace LLP increased 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 acquiring an additional 141,393 shares during the period. Institutional investors 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.