Enerflex (NYSE:EFXT) Shares Gap Up After Earnings Beat

Shares of Enerflex Ltd. (NYSE:EFXT) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.13, but opened at $8.58. Enerflex shares last traded at $8.07, with a volume of 70,736 shares trading hands.

The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Enerflex had a negative net margin of 3.15% and a negative return on equity of 1.25%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their target price on shares of Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Institutional Investors Weigh In On Enerflex

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Enerflex in the third quarter valued at $730,000. Barclays PLC grew its holdings in shares of Enerflex by 2,616,800.0% in the third quarter. Barclays PLC now owns 26,169 shares of the company’s stock worth $156,000 after purchasing an additional 26,168 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Enerflex in the third quarter worth about $344,000. JPMorgan Chase & Co. grew its holdings in shares of Enerflex by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 77,749 shares of the company’s stock worth $463,000 after purchasing an additional 27,878 shares during the last quarter. Finally, Canoe Financial LP grew its holdings in shares of Enerflex by 10.2% in the fourth quarter. Canoe Financial LP now owns 8,276,972 shares of the company’s stock worth $82,342,000 after purchasing an additional 768,210 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Trading Down 0.6 %

The stock’s fifty day moving average price is $9.70 and its 200 day moving average price is $7.95. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a market capitalization of $1.00 billion, a P/E ratio of -12.88 and a beta of 2.02.

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.