Exchange Income (TSE:EIF) Price Target Raised to C$145.00 at Scotiabank

Key Points

• Scotiabank raised its price target on Exchange Income to C$145.00 from C$129.00, implying about 13.65% upside from the prior close.
• Other analysts have also turned more optimistic, with firms like TD, National Bank Financial, Raymond James, and RBC lifting their targets; the stock now has an average Buy rating and average target of C$131.39.
• Exchange Income traded at C$127.58 on Thursday, below Scotiabank’s target but near its 52-week high of C$136.48, while the company recently reported C$0.61 EPS on revenue of C$866.58 million for the quarter.

Exchange Income (TSE:EIF - Get Free Report) had its target price hoisted by equities research analysts at Scotiabank from C$129.00 to C$145.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank's price target indicates a potential upside of 13.65% from the company's previous close.

Several other equities research analysts have also commented on the company. TD boosted their price objective on Exchange Income from C$125.00 to C$142.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. National Bank Financial lifted their price target on Exchange Income from C$125.00 to C$144.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Paradigm Capital boosted their price target on Exchange Income from C$120.00 to C$122.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Raymond James Financial increased their price objective on Exchange Income from C$130.00 to C$142.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price objective on Exchange Income from C$127.00 to C$150.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Exchange Income currently has an average rating of "Buy" and an average target price of C$131.39.

Exchange Income Price Performance

EIF traded down C$2.89 during midday trading on Thursday, hitting C$127.58. 53,755 shares of the company traded hands, compared to its average volume of 177,402. The business has a 50 day simple moving average of C$122.12 and a two-hundred day simple moving average of C$106.98. Exchange Income has a 52-week low of C$64.95 and a 52-week high of C$136.48. The company has a market capitalization of C$7.19 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.42 and a beta of 1.03. The company has a current ratio of 1.64, a quick ratio of 1.12 and a debt-to-equity ratio of 141.03.

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

Insider Buying and Selling at Exchange Income

In related news, Director Duncan Draper Jessiman sold 1,000 shares of the company's 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 sale, the director owned 5,080 shares of the company's stock, valued at approximately C$663,651.20. This represents a 16.45% decrease in their ownership of the stock. Insiders own 6.44% of the company's stock.

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.

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