Exchange Income (TSE:EIF) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Exchange Income shares briefly moved above their 200-day moving average of C$116.78, reaching C$117.96 before closing at C$116.60.
• Analysts remain bullish: the stock has a consensus “Buy” rating and an average price target of C$145.92, with several firms recently raising their targets to C$150 or higher.
• The company reported quarterly EPS of C$1.13 on revenue of C$952.16 million. Meanwhile, insiders sold 9,500 shares worth approximately C$1.20 million over the past 90 days, while insiders own 6.44% of the company.

Exchange Income Co. (TSE:EIF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$116.78 and traded as high as C$117.96. Exchange Income shares last traded at C$116.60, with a volume of 68,578 shares traded.

Analyst Ratings Changes

EIF has been the topic of a number of research reports. Scotiabank upped their target price on shares of Exchange Income from C$140.00 to C$150.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 13th. BMO Capital Markets boosted their price target on shares of Exchange Income from C$140.00 to C$152.00 in a research note on Thursday, August 13th. Canaccord Genuity Group increased their price objective on shares of Exchange Income from C$129.00 to C$150.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Canadian Imperial Bank of Commerce increased their price objective on shares of Exchange Income from C$141.00 to C$151.00 in a report on Thursday, August 13th. Finally, National Bank Financial raised their price objective on shares of Exchange Income from C$144.00 to C$145.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. One equities research 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.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$145.92.

Exchange Income Stock Up 0.3%

The company has a current ratio of 1.63, a quick ratio of 1.12 and a debt-to-equity ratio of 141.68. The firm's fifty day moving average price is C$125.13 and its 200-day moving average price is C$116.78. The company has a market cap of C$6.57 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 1.42 and a beta of 0.94.

Exchange Income (TSE:EIF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported C$1.13 EPS 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 predict that Exchange Income Co. will post 3.9962963 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Duncan Draper Jessiman sold 1,000 shares of Exchange Income stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$130.64, for a total transaction of C$130,640.00. Following the transaction, the director owned 5,080 shares in the company, valued at C$663,651.20. The trade was a 16.45% decrease in their position. Also, Director Donald Streuber sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of C$120.47, for a total value of C$421,645.00. Following the completion of the transaction, the director owned 27,368 shares of the company's stock, valued at C$3,297,022.96. This represents a 11.34% decrease in their ownership of the stock. Over the last ninety days, insiders acquired 1,284 shares of company stock worth $151,457 and sold 9,500 shares worth $1,204,485. Corporate 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.

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