Exchange Income (TSE:EIF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Exchange Income Co. (TSE:EIF)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$109.99 and traded as high as C$126.64. Exchange Income shares last traded at C$124.57, with a volume of 219,092 shares changing hands.

Wall Street Analysts Forecast Growth

EIF has been the topic of several analyst reports. Scotiabank upped their target price on shares of Exchange Income from C$129.00 to C$145.00 in a report on Thursday, July 16th. Paradigm Capital lifted their price target on shares of Exchange Income from C$120.00 to C$122.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Canaccord Genuity Group boosted their price target on shares of Exchange Income from C$116.00 to C$129.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. TD upped their price objective on shares of Exchange Income from C$125.00 to C$142.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Exchange Income from C$123.00 to C$141.00 and gave the stock an “outperformer” rating in a report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$136.62.

Exchange Income Trading Down 1.1%

The business has a 50 day simple moving average of C$126.92 and a 200 day simple moving average of C$110.26. The company has a debt-to-equity ratio of 141.03, a current ratio of 1.64 and a quick ratio of 1.12. The company has a market cap of C$7.07 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03.

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

Insider Buying and Selling

In other Exchange Income news, Director Duncan Draper Jessiman sold 1,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of C$130.64, for a total transaction of C$130,640.00. Following the sale, the director owned 5,080 shares of the company’s stock, valued at C$663,651.20. This represents a 16.45% decrease in their position. 6.44% of the stock is currently owned by corporate insiders.

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.