Empire (TSE:EMP.A) Price Target Raised to C$50.00

Empire (TSE:EMP.A) had its price target lifted by research analysts at Desjardins from C$47.00 to C$50.00 in a research note issued to investors on Sunday,BayStreet.CA reports. Desjardins’ price target would indicate a potential upside of 12.26% from the stock’s current price.

Several other brokerages have also recently issued reports on EMP.A. BMO Capital Markets upped their price objective on Empire from C$44.00 to C$48.00 in a report on Friday. TD Securities boosted their target price on shares of Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a research note on Friday. 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 research report on Friday, September 13th. CIBC lifted their price objective on shares of Empire from C$47.00 to C$55.00 in a report on Friday. Finally, Scotiabank boosted their target price on shares of Empire from C$44.00 to C$47.00 in a report on Friday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$48.57.

Empire Stock Down 0.3 %

EMP.A stock opened at C$44.54 on Friday. The stock has a market cap of C$6.25 billion, a P/E ratio of 16.26, a PEG ratio of 16.20 and a beta of 0.48. Empire has a twelve month low of C$31.45 and a twelve month high of C$46.77. The business’s 50-day moving average price is C$41.51 and its 200-day moving average price is C$37.92. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51.

Insider Transactions at Empire

In related news, Senior Officer Pierre St-Laurent sold 4,850 shares of the company’s stock in a transaction that occurred 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 3,658 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$40.26, for a total transaction of C$147,252.79. Insiders own 2.18% of the company’s stock.

About Empire

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.