Empire (TSE:EMP.A) Share Price Crosses Above Two Hundred Day Moving Average of $30.80

Shares of Empire Company Limited (TSE:EMP.A) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.80 and traded as high as $32.91. Empire shares last traded at $32.64, with a volume of 462,262 shares traded.

Several research analysts have recently issued reports on the stock. CIBC upped their target price on shares of Empire from C$35.00 to C$37.00 in a report on Friday, June 19th. Scotiabank raised their price objective on Empire from C$36.50 to C$40.00 in a report on Friday, June 19th. National Bank Financial boosted their target price on Empire from C$37.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, June 19th. Royal Bank of Canada upped their target price on Empire from C$37.00 to C$38.00 and gave the company a “sector perform” rating in a research report on Thursday, March 26th. Finally, TD Securities lifted their price target on Empire from C$32.00 to C$35.00 and gave the stock a “hold” rating in a research report on Friday, June 19th.

The stock’s 50-day moving average is C$30.96 and its 200 day moving average is C$30.80. The stock has a market cap of $5.60 billion and a price-to-earnings ratio of 15.18. The company has a debt-to-equity ratio of 172.93, a current ratio of 0.80 and a quick ratio of 0.39.

About Empire (TSE:EMP.A)

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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