BMO Capital Markets Boosts Empire (TSE:EMP.A) Price Target to C$48.00

Empire (TSE:EMP.A) had its price target lifted by analysts at BMO Capital Markets from C$44.00 to C$48.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 7.41% from the stock’s current price.

A number of other research analysts have also recently issued reports on EMP.A. Scotiabank lifted their price objective on Empire from C$44.00 to C$47.00 in a research note on Friday. CIBC increased their price objective on shares of Empire from C$47.00 to C$55.00 in a research report on Friday. TD Securities upped their price objective on Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a research report on Friday. Desjardins boosted their price target on Empire from C$44.00 to C$47.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, National Bankshares increased their price objective 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Empire presently has an average rating of “Hold” and an average target price of C$48.14.

Empire Price Performance

Shares of EMP.A opened at C$44.69 on Friday. Empire has a fifty-two week low of C$31.45 and a fifty-two week high of C$46.77. The firm’s 50-day simple moving average is C$41.44 and its two-hundred day simple moving average is C$37.81. The stock has a market cap of C$6.27 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.

Insider Activity

In related news, Senior Officer Pierre St-Laurent sold 4,850 shares of Empire 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. Also, Senior Officer Douglas Bigler Nathanson sold 3,658 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$40.26, for a total value of C$147,252.79. Insiders own 2.18% of the company’s stock.

About Empire

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.