Empire (TSE:EMP.A) Price Target Raised to C$47.00

Empire (TSE:EMP.A) had its price objective boosted by stock analysts at CIBC from C$40.00 to C$47.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock.

Several other analysts have also weighed in on EMP.A. Desjardins lifted their price objective on Empire from C$38.00 to C$40.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Royal Bank of Canada raised their target price on Empire from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Friday. TD Securities raised their target price on Empire from C$36.00 to C$38.00 and gave the stock a “hold” rating in a research report on Monday, June 24th. BMO Capital Markets raised their target price on Empire from C$40.00 to C$43.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, National Bankshares raised their target price on Empire from C$41.00 to C$42.00 in a research report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Empire presently has an average rating of “Hold” and a consensus price target of C$43.14.

Empire Stock Performance

Empire has a fifty-two week low of C$31.45 and a fifty-two week high of C$41.38. The firm has a market cap of C$5.68 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 16.20 and a beta of 0.47. The stock’s fifty day moving average price is C$37.03 and its 200 day moving average price is C$34.48. The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29.

Insider Buying and Selling at Empire

In other Empire news, Director William Linton sold 7,058 shares of Empire stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the transaction, the director now owns 875 shares in the company, valued at approximately C$30,087.05. In other news, Director William Linton sold 7,058 shares of Empire stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the sale, the director now directly owns 875 shares of the company’s stock, valued at approximately C$30,087.05. Also, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction on Friday, July 19th. The shares were sold at an average price of C$36.17, for a total value of C$153,228.83. Following the completion of the sale, the insider now directly owns 381 shares of the company’s stock, valued at C$13,781.91. In the last quarter, insiders sold 14,294 shares of company stock worth $504,880. 2.15% of the stock is currently owned by insiders.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.