Empire (TSE:EMP.A) Price Target Raised to C$40.00 at BMO Capital Markets

Empire (TSE:EMP.A - Get Free Report) had its price objective increased by stock analysts at BMO Capital Markets from C$35.00 to C$40.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. BMO Capital Markets' target price points to a potential upside of 5.57% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. National Bankshares increased their target price on Empire from C$41.00 to C$42.00 in a report on Thursday, August 29th. Desjardins raised their target price on shares of Empire from C$38.00 to C$40.00 and gave the stock a "buy" rating in a report on Monday, June 24th. TD Securities boosted their price target on Empire from C$36.00 to C$38.00 and gave the company a "hold" rating in a report on Monday, June 24th. Finally, Royal Bank of Canada reduced their target price on Empire from C$42.00 to C$41.00 and set a "sector perform" rating on the stock in a research note on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$39.57.

Empire Price Performance

EMP.A stock traded up C$0.31 during mid-day trading on Tuesday, hitting C$37.89. 411,916 shares of the stock were exchanged, compared to its average volume of 407,987. The business has a fifty day moving average price of C$36.32 and a 200 day moving average price of C$34.20. Empire has a 12 month low of C$31.45 and a 12 month high of C$40.69. The company has a debt-to-equity ratio of 134.59, a current ratio of 0.80 and a quick ratio of 0.29. The stock has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 16.20 and a beta of 0.47.

Insider Buying and Selling at Empire

In other news, Director William Linton sold 7,058 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$34.39, for a total value of C$242,690.74. Following the sale, the director now directly owns 875 shares of the company's stock, valued at C$30,087.05. In related news, Senior Officer Vivek Sood sold 4,236 shares of the business's stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of C$36.17, for a total value of C$153,228.83. Following the completion of the transaction, the insider now directly owns 381 shares in the company, valued at approximately C$13,781.91. Also, Director William Linton sold 7,058 shares of the company's stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the transaction, the director now directly owns 875 shares in the company, valued at C$30,087.05. Over the last quarter, insiders sold 14,294 shares of company stock valued at $504,880. Corporate insiders own 2.15% of the company's stock.

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.