Empire (TSE:EMP.A) Given New C$44.00 Price Target at BMO Capital Markets

Empire (TSE:EMP.A) had its target price boosted by equities researchers at BMO Capital Markets from C$43.00 to C$44.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 3.14% from the stock’s previous close.

Several other brokerages have also commented on EMP.A. Royal Bank of Canada upped their price objective on shares of Empire from C$42.00 to C$46.00 in a report on Tuesday, November 12th. TD Securities increased their price target on shares of Empire from C$38.00 to C$44.00 and gave the stock a “hold” rating in a research report on Friday, September 13th. CIBC increased their price target on Empire from C$40.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Desjardins raised their target price on shares of Empire from C$42.00 to C$44.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, National Bankshares increased their price target on Empire from C$42.00 to C$46.00 and gave the stock a “sector perform” rating in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Empire currently has an average rating of “Hold” and an average price target of C$43.86.

Empire Price Performance

Shares of TSE:EMP.A opened at C$42.66 on Monday. The stock has a market cap of C$5.99 billion, a P/E ratio of 15.50, a P/E/G ratio of 16.20 and a beta of 0.48. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. The company has a 50 day moving average of C$40.87 and a 200 day moving average of C$37.24. Empire has a 12 month low of C$31.45 and a 12 month high of C$42.92.

Insider Transactions at Empire

In other news, Senior Officer Pierre St-Laurent sold 4,850 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total value of C$199,868.50. Also, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$39.66, for a total value of C$179,461.50. Over the last ninety days, insiders have sold 13,033 shares of company stock valued at $526,583. 2.18% 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.