Exchange Income (TSE:EIF) Hits New 52-Week High - Still a Buy?

Key Points

• Exchange Income Co. (TSE:EIF) reached a new 52-week high at C$78.39 and closed at C$77.74, marking an increase from its previous close of C$75.83.
• Analysts have shown strong confidence in the stock, with several firms, including Scotiabank and CIBC, raising their price targets significantly, and a consensus rating of "Buy" with a target price of C$81.11.
• The company recently declared a dividend of $0.22 per share, payable on October 15th, with a payout ratio of 100.38%.

Exchange Income Co. (TSE:EIF - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$78.39 and last traded at C$77.74, with a volume of 158199 shares traded. The stock had previously closed at C$75.83.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EIF shares. Scotiabank upped their price objective on shares of Exchange Income from C$66.00 to C$80.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. CIBC boosted their target price on shares of Exchange Income from C$74.50 to C$84.50 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Raymond James Financial increased their price target on shares of Exchange Income from C$85.00 to C$90.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, October 1st. Ventum Financial set a C$81.00 price target on shares of Exchange Income and gave the company a "buy" rating in a report on Tuesday, September 16th. Finally, Paradigm Capital upped their price objective on Exchange Income from C$68.00 to C$82.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$81.11.

Exchange Income Price Performance

The stock has a market cap of C$3.99 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company has a quick ratio of 1.13, a current ratio of 1.76 and a debt-to-equity ratio of 173.72. The company's fifty day moving average is C$72.37 and its 200 day moving average is C$62.61.

Exchange Income Dividend Announcement

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be issued a dividend of $0.22 per share. Exchange Income's payout ratio is 100.38%.

About Exchange Income

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.

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