Empire (TSE:EMP.A) Given New C$47.00 Price Target at Scotiabank

Empire (TSE:EMP.A - Get Free Report) had its price objective hoisted by equities researchers at Scotiabank from C$44.00 to C$47.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank's target price points to a potential upside of 5.17% from the company's previous close.

Several other brokerages have also weighed in on EMP.A. Royal Bank of Canada increased their price objective on Empire from C$42.00 to C$46.00 in a research report on Tuesday, November 12th. CIBC increased their price objective on Empire from C$40.00 to C$47.00 and gave the stock an "outperform" rating in a research report on Friday, September 13th. Desjardins increased their price objective on Empire from C$44.00 to C$47.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. National Bankshares increased their price objective 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. Finally, TD Securities lifted their price objective on Empire from C$44.00 to C$48.00 and gave the company a "hold" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Empire has a consensus rating of "Hold" and a consensus price target of C$48.14.

Empire Trading Down 1.3 %

Empire stock traded down C$0.59 during mid-day trading on Friday, hitting C$44.69. The company's stock had a trading volume of 466,600 shares, compared to its average volume of 407,215. The firm has a market capitalization of C$6.27 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. Empire has a 1 year low of C$31.45 and a 1 year high of C$46.77. 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 stock's fifty day moving average is C$41.44 and its two-hundred day moving average is C$37.81.

Insider Buying and Selling

In related news, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the business's stock in a transaction 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. Also, Senior Officer Pierre St-Laurent sold 4,850 shares of Empire stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total value of C$199,868.50. 2.18% of the stock is currently owned by 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.