Empire (TSE:EMP.A) Price Target Raised to C$61.00 at Royal Bank Of Canada

Empire (TSE:EMP.A - Get Free Report) had its price target raised by equities research analysts at Royal Bank Of Canada from C$56.00 to C$61.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 9.38% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Desjardins increased their price target on Empire from C$50.00 to C$55.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Scotiabank upgraded Empire from a "sector perform" rating to an "outperform" rating and increased their target price for the company from C$47.00 to C$49.00 in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Empire presently has a consensus rating of "Hold" and a consensus target price of C$57.43.

Empire Price Performance

Shares of EMP.A stock traded up C$0.26 during mid-day trading on Friday, hitting C$55.77. 282,785 shares of the stock were exchanged, compared to its average volume of 490,104. 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 52-week low of C$33.77 and a 52-week high of C$56.41. The firm has a fifty day moving average of C$51.08 and a 200 day moving average of C$46.64. The company has a market cap of C$7.83 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48.

Insider Activity at Empire

In related news, Senior Officer Simon Gagne sold 12,269 shares of the business's 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. Also, Senior Officer Douglas Bigler Nathanson sold 600 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$54.91, for a total transaction of C$32,946.00. In the last ninety days, insiders sold 13,269 shares of company stock valued at $646,533. 2.18% of the stock is 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.