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

Empire (TSE:EMP.A) had its price objective hoisted by analysts at Desjardins from C$44.00 to C$47.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 8.44% from the company’s previous close.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Empire from C$42.00 to C$46.00 in a report on Tuesday, November 12th. TD Securities raised their target price on shares of Empire from C$38.00 to C$44.00 and gave the stock a “hold” rating in a report on Friday, September 13th. BMO Capital Markets upped their price target on shares of Empire from C$43.00 to C$44.00 in a report on Monday, December 2nd. CIBC lifted their price objective on Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, National Bankshares upped their target price on Empire from C$42.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$44.29.

Empire Trading Down 0.7 %

Shares of TSE:EMP.A opened at C$43.34 on Monday. The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29. The firm has a market capitalization of C$6.09 billion, a P/E ratio of 15.82, a P/E/G ratio of 16.20 and a beta of 0.48. The business’s 50-day moving average is C$41.24 and its 200 day moving average is C$37.61. Empire has a 1 year low of C$31.45 and a 1 year high of C$43.77.

Insider Buying and Selling at Empire

In other Empire news, Senior Officer Pierre St-Laurent sold 4,850 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total transaction of C$199,868.50. Also, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$40.26, for a total value of C$147,252.79. Insiders have sold 13,033 shares of company stock worth $526,583 over the last quarter. 2.18% of the stock is currently owned by company insiders.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.