Exchange Income (TSE:EIF) Sets New 1-Year High After Analyst Upgrade

Key Points

• Exchange Income shares reached a new 52-week high of C$136.75 after Desjardins raised its price target from C$135 to C$145 and maintained a buy rating.
• Analyst sentiment remains strongly positive, with 13 buy ratings and a consensus price target of C$137.38; several firms recently raised their targets to between C$141 and C$146.
• Director Duncan Draper Jessiman sold 1,000 shares for C$130,640, reducing his holdings by 16.45%. The company recently reported quarterly revenue of C$952.16 million and earnings of C$1.13 per share.

Exchange Income Co. (TSE:EIF - Get Free Report) shares hit a new 52-week high during trading on Wednesday after Desjardins raised their price target on the stock from C$135.00 to C$145.00. Desjardins currently has a buy rating on the stock. Exchange Income traded as high as C$136.75 and last traded at C$135.98, with a volume of 256081 shares traded. The stock had previously closed at C$128.18.

Other equities analysts also recently issued research reports about the company. TD increased their price target on Exchange Income from C$125.00 to C$142.00 and gave the company a "buy" rating in a report on Monday, June 8th. Raymond James Financial boosted their target price on shares of Exchange Income from C$130.00 to C$142.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Paradigm Capital raised their price target on Exchange Income from C$120.00 to C$122.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lifted their price objective on Exchange Income from C$125.00 to C$146.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Exchange Income from C$123.00 to C$141.00 and gave the stock an "outperformer" rating in a research report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$137.38.

Insiders Place Their Bets

In other Exchange Income news, Director Duncan Draper Jessiman sold 1,000 shares of the firm's stock in a transaction on 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 sale, the director directly owned 5,080 shares in the company, valued at C$663,651.20. This trade represents a 16.45% decrease in their position. 6.44% of the stock is currently owned by company insiders.

Exchange Income Stock Up 6.1%

The firm has a 50 day moving average of C$128.49 and a 200-day moving average of C$112.34. 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 stock has a market capitalization of C$7.66 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03.

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

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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