Canaccord Genuity Group Issues Positive Forecast for Exchange Income (TSE:EIF) Stock Price

Exchange Income (TSE:EIF) had its price target upped by Canaccord Genuity Group from C$116.00 to C$129.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 21.56% from the company’s previous close.

EIF has been the subject of several other research reports. Desjardins increased their price target on shares of Exchange Income from C$114.00 to C$116.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. National Bank Financial increased their price target on shares of Exchange Income from C$110.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Scotiabank increased their price target on shares of Exchange Income from C$121.00 to C$129.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. BMO Capital Markets increased their price target on shares of Exchange Income from C$100.00 to C$111.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Finally, Raymond James Financial increased their price target on shares of Exchange Income from C$110.00 to C$125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Exchange Income currently has an average rating of “Buy” and a consensus target price of C$122.19.

Exchange Income Stock Performance

Shares of TSE:EIF traded up C$1.76 on Wednesday, hitting C$106.12. 159,542 shares of the company were exchanged, compared to its average volume of 176,641. The company’s 50 day moving average price is C$102.87 and its two-hundred day moving average price is C$92.54. Exchange Income has a one year low of C$55.98 and a one year high of C$111.00. The company has a debt-to-equity ratio of 149.91, a quick ratio of 1.13 and a current ratio of 1.71. The firm has a market capitalization of C$5.98 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.42 and a beta of 0.98.

Exchange Income (TSE:EIF) last posted its quarterly earnings results on Monday, May 11th. The company reported C$0.61 earnings per share (EPS) for the quarter. Exchange Income had a net margin of 5.11% and a return on equity of 10.61%. The firm had revenue of C$866.58 million during the quarter. Research analysts expect that Exchange Income will post 3.9962963 earnings per share for the current year.

Insiders Place Their Bets

In other Exchange Income news, Director Duncan Draper Jessiman sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 6,080 shares of the company’s stock, valued at approximately C$618,944. This represents a 33.04% decrease in their ownership of the stock. Corporate insiders own 6.44% of the company’s stock.

About Exchange Income

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.