Exchange Income (TSE:EIF) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Exchange Income shares rose above their 200-day moving average, reaching C$125.48 before last trading at C$124.23, compared with the 200-day average of C$118.04.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of C$145.92. Several firms raised their targets, including ATB Cormark to C$165 and RBC to C$156.
• The company reported quarterly revenue of C$952.16 million and earnings of C$1.13 per share. Insider activity was mixed: a director bought 1,000 shares, while another sold 5,000 shares.

Exchange Income Co. (TSE:EIF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$118.04 and traded as high as C$125.48. Exchange Income shares last traded at C$124.23, with a volume of 110,593 shares changing hands.

Analysts Set New Price Targets

EIF has been the topic of several research analyst reports. BMO Capital Markets upped their price target on shares of Exchange Income from C$140.00 to C$152.00 in a report on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on Exchange Income from C$150.00 to C$156.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Raymond James Financial boosted their target price on Exchange Income from C$142.00 to C$150.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 13th. ATB Cormark Capital Markets upped their target price on Exchange Income from C$146.00 to C$165.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Finally, National Bank Financial raised their price target on Exchange Income from C$144.00 to C$145.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$145.92.

Exchange Income Trading Down 0.9%

The stock's 50 day simple moving average is C$123.91 and its 200 day simple moving average is C$118.04. The firm has a market cap of C$7.00 billion, a PE ratio of 33.67, a PEG ratio of 1.42 and a beta of 0.94. The company has a debt-to-equity ratio of 141.68, a quick ratio of 1.12 and a current ratio of 1.63.

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. Exchange Income had a net margin of 5.53% and a return on equity of 11.69%. The firm had revenue of C$952.16 million for the quarter. On average, sell-side analysts forecast that Exchange Income Co. will post 3.9962963 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Pyle purchased 1,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were acquired at an average price of C$116.93 per share, for a total transaction of C$116,930.00. Following the completion of the transaction, the director directly owned 20,337 shares of the company's stock, valued at approximately C$2,378,005.41. This trade represents a 5.17% increase in their position. Also, Director Donald Streuber sold 5,000 shares of Exchange Income stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of C$130.44, for a total value of C$652,200.00. Following the sale, the director directly owned 279,299 shares of the company's stock, valued at approximately C$36,431,761.56. This trade represents a 1.76% decrease in their position. In the last three months, insiders purchased 1,534 shares of company stock worth $181,356. 6.44% of the stock is owned by insiders.

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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