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

Empire (TSE:EMP.A) had its price objective increased by CIBC from C$47.00 to C$55.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 23.07% from the company’s previous close.

Several other analysts also recently weighed in on EMP.A. BMO Capital Markets lifted their target price on shares of Empire from C$43.00 to C$44.00 in a report on Monday, December 2nd. National Bankshares lifted their price target on shares of Empire from C$42.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Friday, September 13th. Desjardins upped their price objective on Empire from C$44.00 to C$47.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their price target on shares of Empire from C$42.00 to C$46.00 in a research report on Tuesday, November 12th. Finally, Scotiabank increased their price objective on 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. Based on data from MarketBeat.com, Empire currently has a consensus rating of “Hold” and a consensus price target of C$48.14.

Empire Trading Down 1.3 %

Shares of Empire stock opened at C$44.69 on Friday. The stock has a 50 day moving average of C$41.44 and a 200 day moving average of C$37.81. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The firm has a market capitalization of C$6.27 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 16.20 and a beta of 0.48. Empire has a fifty-two week low of C$31.45 and a fifty-two week high of C$46.77.

Insider Activity

In other Empire news, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of C$40.26, for a total value of C$147,252.79. Also, Senior Officer Pierre St-Laurent sold 4,850 shares of Empire 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. 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.