Empire (TSE:EMP.A) Price Target Raised to C$44.00

Empire (TSE:EMP.A) had its target price hoisted by investment analysts at TD Securities from C$38.00 to C$44.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ target price suggests a potential upside of 10.36% from the company’s previous close.

EMP.A has been the subject of several other reports. Royal Bank of Canada lifted their target price on Empire from C$41.00 to C$42.00 and gave the company a “sector perform” rating in a research report on Friday. National Bankshares boosted their price objective on Empire from C$41.00 to C$42.00 in a research note on Thursday, August 29th. BMO Capital Markets boosted their target price on Empire from C$40.00 to C$43.00 and gave the company a “market perform” rating in a report on Friday. Desjardins boosted their target price on Empire from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, CIBC upped their price objective on Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$43.14.

Empire Price Performance

TSE EMP.A traded down C$0.75 during mid-day trading on Friday, hitting C$39.87. The stock had a trading volume of 146,021 shares, compared to its average volume of 404,548. The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29. The firm’s 50 day moving average is C$36.95 and its 200 day moving average is C$34.45. The stock has a market capitalization of C$5.72 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 16.20 and a beta of 0.47. Empire has a twelve month low of C$31.45 and a twelve month high of C$41.38.

Insider Activity at Empire

In related news, Director William Linton sold 7,058 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the transaction, the director now directly owns 875 shares in the company, valued at C$30,087.05. In other Empire news, Senior Officer Pierre St-Laurent sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total transaction of C$108,960.00. Also, Director William Linton sold 7,058 shares of the stock in a transaction dated 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 transaction, the director now owns 875 shares of the company’s stock, valued at approximately C$30,087.05. Over the last 90 days, insiders sold 14,294 shares of company stock valued at $504,880. Insiders own 2.15% of the company’s stock.

Empire Company Profile

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.