Exchange Income (TSE:EIF) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Exchange Income shares crossed above their 200-day moving average, reaching C$123.34 before closing at C$121.64, although the stock was down 0.9% and remained below its 50-day average of C$128.95.
• Analysts remain broadly bullish: five firms recently raised their price targets to between C$150 and C$156. The stock has a consensus “Buy” rating and an average target of C$145.92.
• Exchange Income reported quarterly EPS of C$1.13 on revenue of C$952.16 million. Two directors recently sold shares, while insiders collectively retain a 6.44% ownership stake.

Exchange Income Co. (TSE:EIF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$115.02 and traded as high as C$123.34. Exchange Income shares last traded at C$121.64, with a volume of 103,959 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EIF. Canadian Imperial Bank of Commerce upped their target price on shares of Exchange Income from C$141.00 to C$151.00 in a report on Thursday, August 13th. Canaccord Genuity Group lifted their price target on Exchange Income from C$129.00 to C$150.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Scotiabank boosted their price objective on Exchange Income from C$140.00 to C$150.00 and gave the stock a "sector outperform" rating in a report on Thursday, August 13th. Royal Bank Of Canada increased their price objective on Exchange Income from C$150.00 to C$156.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Finally, Raymond James Financial raised their target price on Exchange Income from C$142.00 to C$150.00 and gave the company a "strong-buy" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$145.92.

Exchange Income Stock Down 0.9%

The stock has a 50-day moving average of C$128.95 and a 200 day moving average of C$115.02. The company has a market capitalization of C$6.85 billion, a PE ratio of 32.96, a P/E/G ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 1.12, a current ratio of 1.63 and a debt-to-equity ratio of 141.68.

Exchange Income (TSE:EIF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$1.13 earnings per share for the quarter. The business had revenue of C$952.16 million for the quarter. Exchange Income had a return on equity of 11.69% and a net margin of 5.53%. Sell-side analysts anticipate that Exchange Income Co. will post 3.9962963 EPS for the current year.

Insiders Place Their Bets

In related news, Director Duncan Draper Jessiman sold 1,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of C$130.64, for a total transaction of C$130,640.00. Following the completion of the transaction, the director owned 5,080 shares in the company, valued at approximately C$663,651.20. This represents a 16.45% decrease in their ownership of the stock. Also, Director Donald Streuber sold 5,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of C$130.44, for a total transaction of C$652,200.00. Following the transaction, the director owned 279,299 shares of the company's stock, valued at approximately C$36,431,761.56. The trade was a 1.76% decrease in their position. Insiders own 6.44% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source