National Bank Financial Raises Empire (TSE:EMP.A) Price Target to C$42.00

Empire (TSE:EMP.A) had its price objective upped by National Bank Financial from C$39.00 to C$42.00 in a research note released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on Empire from C$38.00 to C$40.00 and gave the stock a sector perform rating in a research report on Thursday, July 23rd. TD Securities raised Empire from a hold rating to a buy rating and boosted their price objective for the stock from C$37.00 to C$43.00 in a report on Friday, September 11th. CIBC upped their target price on shares of Empire from C$37.00 to C$40.00 in a research report on Thursday, July 23rd. Scotiabank lifted their price target on shares of Empire from C$44.00 to C$45.00 in a research report on Friday, September 11th. Finally, BMO Capital Markets increased their price objective on shares of Empire from C$39.00 to C$41.00 in a report on Friday, September 11th.

EMP.A stock opened at C$37.12 on Monday. The company has a 50 day moving average price of C$35.09 and a 200 day moving average price of C$32.01. Empire has a fifty-two week low of C$23.88 and a fifty-two week high of C$38.56. The company has a debt-to-equity ratio of 168.93, a current ratio of 0.85 and a quick ratio of 0.44. The stock has a market capitalization of $9.99 billion and a PE ratio of 15.60.

In related news, Senior Officer Vivek Sood sold 803 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of C$33.64, for a total transaction of C$27,012.92. Following the completion of the transaction, the insider now owns 3,957 shares in the company, valued at C$133,113.48.

Empire Company Profile

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.

Further Reading: Shanghai Stock Exchange Composite Index

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