ATB Cormark Capital Markets Issues Positive Forecast for Exchange Income (TSE:EIF) Stock Price

Key Points

• ATB Cormark raised its price target on Exchange Income to C$146 from C$125 and kept an outperform rating, implying about 11.9% upside from the prior close.
• Several other brokers also turned more positive on the stock, and MarketBeat data shows 14 analysts rate Exchange Income a Buy with a consensus target price of C$130.25.
• The stock rose to C$130.52 in Wednesday trading, near its 52-week high, after the company reported quarterly EPS of C$0.61 on revenue of C$866.58 million.

Exchange Income (TSE:EIF - Get Free Report) had its price target hoisted by equities researchers at ATB Cormark Capital Markets from C$125.00 to C$146.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 11.86% from the stock's previous close.

A number of other brokerages have also 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 stock a "buy" rating in a research report on Wednesday, May 13th. Paradigm Capital boosted their price objective on shares of Exchange Income from C$120.00 to C$122.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Desjardins upped their price objective on shares of Exchange Income from C$116.00 to C$120.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. BMO Capital Markets upgraded shares of Exchange Income from a "market perform" rating to an "outperform" rating and increased their target price for the company from C$111.00 to C$120.00 in a research note on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Exchange Income from C$123.00 to C$141.00 and gave the company an "outperformer" rating in a research note on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$130.25.

Exchange Income Stock Performance

Shares of TSE EIF traded up C$4.34 during trading hours on Wednesday, hitting C$130.52. 110,922 shares of the company's stock were exchanged, compared to its average volume of 177,965. The company's 50-day moving average price is C$121.63 and its 200-day moving average price is C$106.65. Exchange Income has a 1-year low of C$64.95 and a 1-year high of C$136.48. The stock has a market capitalization of C$7.35 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 1.42 and a beta of 1.03. The company has a debt-to-equity ratio of 141.03, a current ratio of 1.64 and a quick ratio of 1.12.

Exchange Income (TSE:EIF - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.61 EPS for the quarter. Exchange Income had a return on equity of 11.35% and a net margin of 5.41%.The company had revenue of C$866.58 million for the quarter. On average, sell-side analysts expect that Exchange Income will post 3.9962963 earnings per share for the current fiscal year.

Insider Transactions at Exchange Income

In related news, Director Duncan Draper Jessiman sold 1,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 5,080 shares of the company's stock, valued at C$663,651.20. This represents a 16.45% decrease in their ownership of the stock. 6.44% of the stock is owned by company insiders.

About Exchange Income

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.