ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Exchange Income (TSE:EIF) Stock

Key Points

• ATB Cormark raised Exchange Income’s price target to C$165 from C$146 while maintaining an “outperform” rating, implying 21.62% upside from the prior close.
• Other brokerages also increased their targets, and analyst sentiment remains positive: Exchange Income has a consensus “Buy” rating with an average target of C$145.92.
• Shares traded at C$135.67, near their 12-month high of C$136.75. The company reported quarterly revenue of C$952.16 million and EPS of C$1.13, while a director recently sold 1,000 shares.

Exchange Income (TSE:EIF - Get Free Report) had its target price lifted by ATB Cormark Capital Markets from C$146.00 to C$165.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price would suggest a potential upside of 21.62% from the stock's previous close.

Several other brokerages also recently issued reports on EIF. Canaccord Genuity Group boosted their target price on shares of Exchange Income from C$116.00 to C$129.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. BMO Capital Markets upped their price target on Exchange Income from C$140.00 to C$152.00 in a research report on Thursday. Canadian Imperial Bank of Commerce raised their price objective on Exchange Income from C$141.00 to C$151.00 in a research report on Thursday. Desjardins upped their target price on Exchange Income from C$135.00 to C$145.00 and gave the company a "buy" rating in a report on Wednesday. Finally, TD raised their price target on shares of Exchange Income from C$142.00 to C$151.00 and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$145.92.

Exchange Income Trading Up 0.2%

EIF traded up C$0.24 during trading on Thursday, reaching C$135.67. The company had a trading volume of 101,343 shares, compared to its average volume of 174,114. The firm's 50-day simple moving average is C$128.73 and its 200 day simple moving average is C$112.60. The company has a debt-to-equity ratio of 141.03, a quick ratio of 1.12 and a current ratio of 1.64. The company has a market cap of C$7.64 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 1.42 and a beta of 1.03. Exchange Income has a 12-month low of C$69.67 and a 12-month high of C$136.75.

Exchange Income (TSE:EIF - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$1.13 EPS for the quarter. The company had revenue of C$952.16 million during the quarter. Exchange Income had a net margin of 5.41% and a return on equity of 11.35%. Equities research analysts anticipate that Exchange Income will post 3.9962963 earnings per share for the current year.

Insider Transactions at Exchange Income

In related news, Director Duncan Draper Jessiman sold 1,000 shares of Exchange Income stock in a transaction on Monday, June 29th. The shares were sold at an average price of C$130.64, for a total value of C$130,640.00. Following the transaction, the director owned 5,080 shares in the company, valued at C$663,651.20. This trade represents a 16.45% decrease in their position. Insiders own 6.44% of the company's stock.

Exchange Income Company Profile

Exchange Income Corporation is a diversified acquisition-oriented company, focused in two segments: Aerospace & Aviation and Manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.

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