Empire (TSE:EMP.A) Price Target Raised to C$62.00 at Scotiabank

Empire (TSE:EMP.A - Get Free Report) had its price objective hoisted by investment analysts at Scotiabank from C$49.00 to C$62.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 11.57% from the company's previous close.

A number of other research analysts have also weighed in on EMP.A. Desjardins raised their price target on shares of Empire from C$50.00 to C$55.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada increased their target price on Empire from C$56.00 to C$61.00 and gave the company a "sector perform" rating in a report on Friday. 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 a consensus rating of "Hold" and an average target price of C$57.43.

Empire Price Performance

TSE:EMP.A traded up C$0.92 during trading hours on Friday, reaching C$55.57. 344,432 shares of the company were exchanged, compared to its average volume of 487,888. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. The firm has a market cap of C$7.80 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. Empire has a twelve month low of C$33.77 and a twelve month high of C$56.41. The stock's 50-day moving average is C$50.90 and its 200-day moving average is C$46.49.

Insider Buying and Selling at Empire

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

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