Empire (TSE:EMP.A) Price Target Raised to C$55.00 at CIBC

Empire (TSE:EMP.A) had its price objective lifted by equities researchers at CIBC from C$47.00 to C$55.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 22.91% from the stock’s previous close.

EMP.A has been the topic of several other research reports. BMO Capital Markets boosted their target price on shares of Empire from C$43.00 to C$44.00 in a report on Monday, December 2nd. National Bankshares upped their price objective on shares of Empire from C$42.00 to C$46.00 and gave the company a “sector perform” rating in a report on Friday, September 13th. TD Securities upped their price objective on shares of Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a report on Friday. Royal Bank of Canada upped their price objective on shares of Empire from C$42.00 to C$46.00 in a report on Tuesday, November 12th. Finally, Scotiabank upped their price objective on shares of Empire from C$44.00 to C$47.00 in a report on Friday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Empire currently has an average rating of “Hold” and a consensus price target of C$48.14.

Empire Trading Down 1.2 %

EMP.A stock traded down C$0.53 during midday trading on Friday, hitting C$44.75. The stock had a trading volume of 203,114 shares, compared to its average volume of 406,110. The firm has a market cap of C$6.28 billion, a P/E ratio of 16.33, a price-to-earnings-growth 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. Empire has a 1-year low of C$31.45 and a 1-year high of C$46.77. The business has a fifty day moving average price of C$41.37 and a two-hundred day moving average price of C$37.73.

Insider Activity at Empire

In other news, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of Empire stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$40.26, for a total transaction of C$147,252.79. Also, Senior Officer Pierre St-Laurent sold 4,850 shares of Empire stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of C$41.21, for a total transaction of C$199,868.50. 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.