Exchange Income Co. (TSE:EIF) shares shot up 3.8% on Monday . The stock traded as high as C$32.75 and last traded at C$32.74. 53,641 shares changed hands during trading, a decline of 79% from the average session volume of 249,616 shares. The stock had previously closed at C$31.53.
Several brokerages have recently commented on EIF. TD Securities lowered their target price on shares of Exchange Income from C$45.00 to C$42.00 and set a “buy” rating for the company in a report on Monday, July 24th. Canaccord Genuity lowered their target price on shares of Exchange Income from C$44.00 to C$42.00 and set a “buy” rating for the company in a report on Friday, July 21st. Scotiabank lowered their target price on shares of Exchange Income from C$43.00 to C$42.00 and set an “outperform” rating for the company in a report on Friday, July 21st. CIBC lowered their target price on shares of Exchange Income from C$39.00 to C$35.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a C$38.00 target price on shares of Exchange Income in a report on Friday, July 7th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$43.56.
The stock has a market capitalization of $1.04 billion and a P/E ratio of 15.69. The company’s 50 day moving average is $30.04 and its 200 day moving average is $33.91.
The business also recently declared a monthly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.175 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.24%. The ex-dividend date was Thursday, July 27th. This is a positive change from Exchange Income’s previous monthly dividend of $0.16.
In related news, Director Michael Pyle purchased 2,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average price of C$33.64 per share, with a total value of C$67,280.00. Also, Director Brad Bennett purchased 3,500 shares of the stock in a transaction dated Wednesday, July 26th. The stock was bought at an average cost of C$26.00 per share, with a total value of C$91,000.00. In the last ninety days, insiders bought 80,460 shares of company stock valued at $2,339,498.
About Exchange Income
Exchange Income Corporation is focused on opportunities in aerospace and aviation services and equipment, and manufacturing. The Company operates through two segments: Aviation and Manufacturing. The Aviation segment provides scheduled airline and charter service, and emergency medical services to communities located in Manitoba, Ontario and Nunavut.
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