Canadian Imperial Bank of Commerce Boosts Exchange Income (TSE:EIF) Price Target to C$151.00

Key Points

• CIBC raised Exchange Income’s price target to C$151 from C$141, implying 11.3% upside from the prior close.
• Analyst sentiment remains positive: Exchange Income has an average “Buy” rating and a consensus price target of C$145.92, with several major banks recently increasing their targets.
• The company reported quarterly revenue of C$952.16 million and earnings of C$1.13 per share. Its shares traded at C$135.67, near a 12-month high, while an insider recently sold 1,000 shares.

Exchange Income (TSE:EIF - Get Free Report) had its price objective raised by equities researchers at Canadian Imperial Bank of Commerce from C$141.00 to C$151.00 in a research report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target would indicate a potential upside of 11.30% from the company's previous close.

Several other analysts have also weighed in on EIF. National Bank Financial raised their price objective on Exchange Income from C$125.00 to C$144.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Royal Bank Of Canada boosted their target price on Exchange Income from C$127.00 to C$150.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Scotiabank increased their target price on shares of Exchange Income from C$129.00 to C$145.00 in a report on Thursday, July 16th. BMO Capital Markets raised their price target on shares of Exchange Income from C$140.00 to C$152.00 in a research note on Thursday. Finally, Desjardins lifted their price target on shares of Exchange Income from C$135.00 to C$145.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$145.92.

Exchange Income Price Performance

EIF traded up C$0.24 during trading on Thursday, hitting C$135.67. 101,343 shares of the stock traded hands, compared to its average volume of 174,114. Exchange Income has a twelve month low of C$69.67 and a twelve month high of C$136.75. 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. The company has a debt-to-equity ratio of 141.03, a current ratio of 1.64 and a quick ratio of 1.12. The business has a 50 day moving average price of C$128.73 and a 200 day moving average price of C$112.60.

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

Insiders Place Their Bets

In related news, Director Duncan Draper Jessiman sold 1,000 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of C$130.64, for a total transaction of C$130,640.00. Following the sale, the director owned 5,080 shares in the company, valued at C$663,651.20. The trade was a 16.45% decrease in their position. 6.44% of the stock is owned by corporate insiders.

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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