Shares of Empire Company Limited (OTCMKTS:EMLAF – Get Rating) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $32.22 and traded as low as $30.21. Empire shares last traded at $30.21, with a volume of 113 shares.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. BMO Capital Markets reduced their price target on Empire from C$44.00 to C$42.00 and set a “market perform” rating on the stock in a research note on Thursday, June 23rd. TD Securities cut their target price on Empire from C$50.00 to C$45.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. National Bank Financial cut their target price on Empire from C$48.00 to C$42.00 in a research note on Thursday, June 23rd. Finally, Scotiabank increased their target price on Empire from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.33.
Empire Trading Down 0.8 %
The firm has a 50-day moving average of $31.07 and a 200 day moving average of $32.22.
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, Farm Boy, Longo's, and Lawtons Drugs; and approximately 350 retail fuel locations, as well as operates grocery e-commerce stores under the banners, such as Voilà by Sobeys, Grocery Gateway, IGA.net, and ThriftyFoods.com.
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