Royal Bank of Canada Forecasts Strong Price Appreciation for Exchange Income (TSE:EIF) Stock

Exchange Income (TSE:EIF) had its price objective raised by investment analysts at Royal Bank of Canada from C$64.00 to C$66.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 16.18% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. CIBC boosted their price target on shares of Exchange Income from C$69.00 to C$73.00 and gave the stock an “outperform” rating in a research report on Thursday. ATB Capital boosted their price target on shares of Exchange Income from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Thursday. Paradigm Capital set a C$69.00 price target on shares of Exchange Income and gave the stock a “buy” rating in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on shares of Exchange Income from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank dropped their price target on shares of Exchange Income from C$65.00 to C$64.00 in a research report on Friday, February 28th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$70.50.

Exchange Income Price Performance

Shares of Exchange Income stock opened at C$56.81 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.13 and a debt-to-equity ratio of 173.72. The company’s 50-day moving average price is C$51.58 and its two-hundred day moving average price is C$53.62. Exchange Income has a 52 week low of C$43.08 and a 52 week high of C$59.32. The stock has a market cap of C$2.83 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.42 and a beta of 2.04.

Insiders Place Their Bets

In related news, Director Brad Bennett acquired 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of C$49.77 per share, for a total transaction of C$1,244,182.50. Also, Director Michael Pyle acquired 4,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of C$50.26 per share, for a total transaction of C$201,052.00. In the last quarter, insiders have purchased 30,311 shares of company stock worth $1,510,455. Company insiders own 6.44% of the company’s stock.

About Exchange Income

Exchange Income Corp is a diversified acquisition-oriented corporation focused on opportunities in two sectors, aerospace, aviation services and equipment, and manufacturing. The business plan of the corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets.