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

Enerflex (NYSE:EFXT) had its price target raised by equities researchers at Royal Bank of Canada from $9.00 to $12.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 43.88% from the stock’s current price.

Enerflex Stock Performance

Shares of NYSE EFXT opened at $8.34 on Friday. The business’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $5.75. 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 has a 52 week low of $4.01 and a 52 week high of $8.48. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -13.24 and a beta of 1.89.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in Enerflex by 17,674.4% in the 2nd quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock worth $81,000 after buying an additional 15,200 shares during the period. West Tower Group LLC acquired a new stake in shares of Enerflex in the third quarter worth $119,000. Fiera Capital Corp increased its position in Enerflex by 117.0% during the second quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock worth $134,000 after acquiring an additional 13,390 shares during the period. Net Worth Advisory Group acquired a new position in Enerflex during the 3rd quarter valued at $146,000. Finally, Barclays PLC boosted its holdings in Enerflex by 2,616,800.0% in the 3rd quarter. Barclays PLC now owns 26,169 shares of the company’s stock valued at $156,000 after purchasing an additional 26,168 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.