Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Exchange Income (TSE:EIF) Stock

Exchange Income (TSE:EIF) had its price target lifted by research analysts at Canadian Imperial Bank of Commerce from C$123.00 to C$141.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 14.30% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Scotiabank increased their target price on shares of Exchange Income from C$121.00 to C$129.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Royal Bank Of Canada reduced their target price on shares of Exchange Income from C$133.00 to C$127.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. TD Securities increased their target price on shares of Exchange Income from C$102.00 to C$125.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Raymond James Financial increased their target price on shares of Exchange Income from C$130.00 to C$142.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Ventum Financial increased their target price on shares of Exchange Income from C$110.00 to C$135.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Fourteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$125.75.

Exchange Income Stock Performance

Shares of TSE EIF traded down C$0.16 during midday trading on Wednesday, hitting C$123.36. 69,457 shares of the company’s stock traded hands, compared to its average volume of 179,021. Exchange Income has a 1 year low of C$57.00 and a 1 year high of C$125.01. The stock has a market capitalization of C$6.95 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. 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 firm has a fifty day moving average of C$108.24 and a 200 day moving average of C$97.97.

Exchange Income (TSE:EIF) last released its earnings results on Monday, May 11th. The company reported C$0.61 earnings per share (EPS) for the quarter. The company had revenue of C$866.58 million during the quarter. Exchange Income had a net margin of 5.41% and a return on equity of 11.35%. On average, analysts forecast that Exchange Income will post 3.9962963 earnings per share for the current year.

Insider Transactions at Exchange Income

In related news, Director Duncan Draper Jessiman sold 3,000 shares of the company’s stock in a transaction 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 sale, the director owned 6,080 shares of the company’s stock, valued at C$618,944. This represents a 33.04% decrease in their ownership of the stock. 6.44% of the stock is currently 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.