Exchange Income (TSE:EIF) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Exchange Income Co. (TSE:EIF) reached a new 52-week high of C$75.13 following an analyst upgrade by Paradigm Capital, which raised its price target from C$68.00 to C$82.00.
• Multiple analysts have lifted their price objectives for Exchange Income, with Desjardins and National Bankshares both setting targets of C$84.00 and maintaining buy ratings.
• The company has announced a dividend of $0.22 payable on August 15th, with a high dividend payout ratio of 103.42%.

Exchange Income Co. (TSE:EIF - Get Free Report)'s share price hit a new 52-week high during trading on Thursday after Paradigm Capital raised their price target on the stock from C$68.00 to C$82.00. Paradigm Capital currently has a buy rating on the stock. Exchange Income traded as high as C$75.13 and last traded at C$74.98, with a volume of 276696 shares. The stock had previously closed at C$73.22.

EIF has been the topic of several other research reports. CIBC boosted their price objective on Exchange Income from C$74.50 to C$84.50 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Desjardins boosted their price objective on Exchange Income from C$73.00 to C$84.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. BMO Capital Markets boosted their price objective on Exchange Income from C$59.00 to C$65.50 and gave the stock a "market perform" rating in a report on Wednesday, August 13th. ATB Capital lifted their target price on Exchange Income from C$70.00 to C$81.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada lifted their target price on Exchange Income from C$74.00 to C$81.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Exchange Income currently has an average rating of "Buy" and an average target price of C$79.68.

Exchange Income Trading Up 0.9%

The firm has a market cap of C$3.67 billion, a P/E ratio of 28.79, a PEG ratio of 1.42 and a beta of 2.04. The company has a 50 day moving average of C$64.35 and a 200 day moving average of C$56.47. The company has a debt-to-equity ratio of 173.72, a quick ratio of 1.13 and a current ratio of 1.76.

Exchange Income Announces Dividend

The company also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.22 dividend. Exchange Income's payout ratio is 103.42%.

Exchange Income Company Profile

Exchange Income Corp is a diversified acquisition-oriented corporation focused on opportunities in two sectors, aerospace, aviation services and equipment, and manufacturing. The business plan of the corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets.