TD Securities Forecasts Strong Price Appreciation for Empire (TSE:EMP.A) Stock

Empire (TSE:EMP.A - Get Free Report) had its price target lifted by equities research analysts at TD Securities from C$48.00 to C$58.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price target indicates a potential upside of 4.37% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Desjardins increased their price objective on shares of Empire from C$50.00 to C$55.00 and gave the stock a "buy" rating in a report on Tuesday. National Bankshares upped their target price on shares of Empire from C$53.00 to C$59.00 and gave the stock a "sector perform" rating in a research report on Friday. Scotiabank lifted their price target on Empire from C$49.00 to C$62.00 and gave the company an "outperform" rating in a report on Friday. Royal Bank Of Canada boosted their price objective on Empire from C$56.00 to C$61.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, CIBC raised their target price on Empire from C$55.00 to C$59.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$57.43.

Empire Stock Performance

Empire stock traded up C$0.92 during mid-day trading on Friday, reaching C$55.57. The company's stock had a trading volume of 344,432 shares, 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. Empire has a twelve month low of C$33.77 and a twelve month high of C$56.41. The business has a 50 day moving average price of C$50.90 and a 200-day moving average price of C$46.49. The firm has a market cap of C$7.80 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 16.20 and a beta of 0.48.

Insider Buying and Selling

In related news, Senior Officer Simon Gagne sold 12,269 shares of Empire stock in a transaction 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 the business's stock in a transaction 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. 2.18% of the stock is owned by corporate 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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