Empire (TSE:EMP.A) Given New C$59.00 Price Target at CIBC

Empire (TSE:EMP.A - Get Free Report) had its price target lifted by analysts at CIBC from C$55.00 to C$59.00 in a report released on Friday,BayStreet.CA reports. CIBC's price objective would suggest a potential upside of 5.79% from the company's current price.

EMP.A has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on Empire from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a research note on Friday. Desjardins boosted their price target on Empire from C$50.00 to C$55.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Scotiabank increased their price target on shares of Empire from C$49.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$57.43.

Empire Stock Performance

Shares of EMP.A traded up C$0.26 during mid-day trading on Friday, hitting C$55.77. 282,785 shares of the company traded hands, compared to its average volume of 490,104. The stock has a market cap of C$7.83 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 16.20 and a beta of 0.48. The stock has a 50-day moving average price of C$51.08 and a two-hundred day moving average price of C$46.64. Empire has a 1 year low of C$33.77 and a 1 year high of C$56.41. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.

Insiders Place Their Bets

In other news, Senior Officer Douglas Bigler Nathanson sold 600 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$54.91, for a total value of C$32,946.00. Also, Senior Officer Simon Gagne sold 12,269 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of C$48.22, for a total transaction of C$591,611.18. Insiders have sold a total of 13,269 shares of company stock worth $646,533 in the last 90 days. 2.18% of the stock is currently owned by corporate insiders.

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.