Empire (TSE:EMP.A) Given New C$55.00 Price Target at Desjardins

Empire (TSE:EMP.A - Get Free Report) had its price objective increased by analysts at Desjardins from C$50.00 to C$55.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price target points to a potential downside of 0.92% from the company's current price.

EMP.A has been the topic of several other research reports. Scotiabank upgraded shares of Empire from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from C$47.00 to C$49.00 in a research note on Friday, March 14th. Royal Bank Of Canada lifted their price objective on shares of Empire from C$50.00 to C$56.00 in a research note on Wednesday, June 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of C$57.43.

Empire Stock Up 1.6%

Shares of TSE:EMP.A traded up C$0.86 during trading on Tuesday, reaching C$55.51. 794,986 shares of the company traded hands, compared to its average volume of 491,846. The firm has a fifty day simple moving average of C$51.08 and a 200 day simple moving average of C$46.59. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. Empire has a 1-year low of C$33.77 and a 1-year high of C$56.41. The firm has a market cap of C$7.79 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48.

Insider Activity

In other Empire news, Senior Officer Simon Gagne sold 12,269 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of C$48.22, for a total value of C$591,611.18. Also, Senior Officer Matthew Reindel sold 1,852 shares of Empire stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of C$46.16, for a total value of C$85,488.32. 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.