Empire (TSE:EMP.A - Get Free Report) was upgraded by research analysts at Scotiabank from a "sector perform" rating to an "outperform" rating in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a C$49.00 target price on the stock, up from their prior target price of C$47.00. Scotiabank's target price indicates a potential upside of 11.39% from the stock's previous close.
Several other research firms have also weighed in on EMP.A. Desjardins lifted their price objective on shares of Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. BMO Capital Markets raised their target price on shares of Empire from C$44.00 to C$48.00 in a report on Friday, December 13th. TD Securities raised their target price on shares of Empire from C$44.00 to C$48.00 and gave the stock a "hold" rating in a report on Friday, December 13th. Finally, CIBC raised their target price on shares of Empire from C$47.00 to C$55.00 in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$48.86.
View Our Latest Stock Report on EMP.A
Empire Trading Up 0.7 %
Shares of TSE EMP.A traded up C$0.31 during mid-day trading on Friday, hitting C$43.99. The company's stock had a trading volume of 685,268 shares, compared to its average volume of 529,694. The stock has a market cap of C$6.18 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29. Empire has a one year low of C$31.45 and a one year high of C$46.77. The company's fifty day simple moving average is C$43.39 and its 200-day simple moving average is C$41.92.
Insider Activity
In related news, Senior Officer Matthew Reindel sold 4,587 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$43.81, for a total value of C$200,956.47. 2.18% of the stock is currently owned by company insiders.
About Empire
(
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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.
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