Empire (TSE:EMP.A) Given New C$58.00 Price Target at TD Securities

Empire (TSE:EMP.A - Get Free Report) had its price target boosted by equities researchers at TD Securities from C$48.00 to C$58.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price target suggests a potential upside of 4.00% from the company's previous close.

Other research analysts have also issued reports about the stock. Scotiabank boosted their price target on shares of Empire from C$49.00 to C$62.00 and gave the company an "outperform" rating in a research report on Friday. Desjardins lifted their price target on Empire from C$50.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. CIBC upped their price objective on shares of Empire from C$55.00 to C$59.00 in a research report on Friday. Royal Bank Of Canada lifted their target price on shares of Empire from C$56.00 to C$61.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, National Bankshares boosted their price target on shares of Empire from C$53.00 to C$59.00 and gave the stock a "sector perform" rating in a research note on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of C$57.43.

Empire Stock Performance

Shares of TSE EMP.A traded up C$0.26 during midday trading on Friday, hitting C$55.77. The company's stock had a trading volume of 282,785 shares, compared to its average volume of 490,104. The firm has a market capitalization 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 company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. The stock has a fifty day moving average price of C$51.08 and a 200 day moving average price of C$46.64. Empire has a one year low of C$33.77 and a one year high of C$56.41.

Insiders Place Their Bets

In related news, Senior Officer Simon Gagne sold 12,269 shares of the business'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 value of C$591,611.18. Also, Senior Officer Douglas Bigler Nathanson sold 600 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of C$54.91, for a total value of C$32,946.00. In the last quarter, insiders have sold 13,269 shares of company stock worth $646,533. Company insiders own 2.18% of the company's stock.

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.