Exchange Income (TSE:EIF) Reaches New 52-Week High on Analyst Upgrade

Exchange Income Co. (TSE:EIF) shares hit a new 52-week high during trading on Thursday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$123.00 to C$141.00. Canadian Imperial Bank of Commerce currently has an outperformer rating on the stock. Exchange Income traded as high as C$125.17 and last traded at C$125.05, with a volume of 50030 shares. The stock had previously closed at C$122.75.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group increased their target price on Exchange Income from C$116.00 to C$129.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. TD Securities raised their price objective on Exchange Income from C$102.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. BMO Capital Markets raised Exchange Income from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$111.00 to C$120.00 in a research note on Wednesday, May 13th. Desjardins raised their price objective on Exchange Income from C$116.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets raised their price objective on Exchange Income from C$120.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Fourteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Exchange Income currently has a consensus rating of “Buy” and an average price target of C$125.75.

Insider Buying and Selling at Exchange Income

In other news, Director Duncan Draper Jessiman sold 3,000 shares of Exchange Income stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$101.80, for a total transaction of C$305,400.00. Following the completion of the transaction, the director directly owned 6,080 shares in the company, valued at approximately C$618,944. This trade represents a 33.04% decrease in their ownership of the stock. Company insiders own 6.44% of the company’s stock.

Exchange Income Stock Performance

The business’s 50-day moving average price is C$108.66 and its 200-day moving average price is C$98.29. The company has a debt-to-equity ratio of 141.03, a quick ratio of 1.13 and a current ratio of 1.64. The stock has a market cap of C$7.04 billion, a P/E ratio of 36.03, a P/E/G ratio of 1.42 and a beta of 1.01.

Exchange Income (TSE:EIF) last released its earnings results on Monday, May 11th. The company reported C$0.61 earnings per share for the quarter. Exchange Income had a net margin of 5.41% and a return on equity of 11.35%. The company had revenue of C$866.58 million for the quarter. As a group, sell-side analysts expect that Exchange Income Co. will post 3.9962963 earnings per share for the current fiscal year.

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.