Empire (EMP.A) Stock Price Up 4.6%
Empire Company Limited (TSE:EMP.A)’s share price rose 4.6% during mid-day trading on Wednesday . The stock traded as high as C$29.87 and last traded at C$29.75. Approximately 91,203 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 314,151 shares. The stock had previously closed at C$28.44.
EMP.A has been the subject of several recent analyst reports. Desjardins raised Empire from a “hold” rating to a “buy” rating and upped their target price for the company from C$27.00 to C$32.00 in a report on Friday, December 14th. BMO Capital Markets upped their target price on Empire from C$30.00 to C$32.00 and gave the company an “outperform” rating in a report on Friday, December 14th. CIBC raised Empire from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$27.00 to C$33.00 in a report on Friday, December 14th. Raymond James reissued a “market perform” rating and set a C$31.00 price objective on shares of Empire in a report on Wednesday, March 6th. Finally, Barclays increased their price objective on Empire from C$31.00 to C$32.00 in a report on Friday, December 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$32.17.
The company has a debt-to-equity ratio of 41.48, a current ratio of 1.12 and a quick ratio of 0.47. The stock has a market capitalization of $4.97 billion and a PE ratio of 23.47.
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.
Recommended Story: Lock-Up Period Expiration
Receive News & Ratings for Empire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire and related companies with MarketBeat.com's FREE daily email newsletter.