Royal Bank of Canada Raises Empire (TSE:EMP.A) Price Target to C$46.00

Empire (TSE:EMP.A) had its price objective upped by stock analysts at Royal Bank of Canada from C$42.00 to C$46.00 in a research report issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 11.14% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. TD Securities lifted their target price on Empire from C$38.00 to C$44.00 and gave the company a “hold” rating in a research report on Friday, September 13th. National Bankshares lifted their target price on Empire from C$42.00 to C$46.00 and gave the company a “sector perform” rating in a research report on Friday, September 13th. Desjardins lifted their target price on Empire from C$42.00 to C$44.00 and gave the company a “buy” rating in a research report on Friday, September 13th. BMO Capital Markets lifted their target price on Empire from C$40.00 to C$43.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. Finally, CIBC lifted their price target on Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$43.71.

Empire Stock Down 0.2 %

Shares of TSE EMP.A opened at C$41.39 on Tuesday. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. Empire has a 52 week low of C$31.45 and a 52 week high of C$42.00. The stock has a market capitalization of C$5.81 billion, a P/E ratio of 15.11, a PEG ratio of 16.20 and a beta of 0.48. The stock’s fifty day moving average is C$40.20 and its 200 day moving average is C$36.42.

Insider Activity

In other news, Senior Officer Pierre St-Laurent sold 4,850 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total transaction of C$199,868.50. In related news, Senior Officer Pierre St-Laurent sold 4,850 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total transaction of C$199,868.50. Also, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of C$39.66, for a total value of C$179,461.50. Insiders sold a total of 13,033 shares of company stock worth $526,583 over the last quarter. 2.18% of the stock is currently owned by corporate insiders.

About Empire

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.