Empire (TSE:EMP.A) Price Target Cut to C$42.00

Empire (TSE:EMP.A – Get Rating) had its target price lowered by stock analysts at TD Securities from C$43.00 to C$42.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 22.95% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Desjardins cut their price target on shares of Empire from C$44.00 to C$41.00 in a report on Friday. ATB Capital cut their price target on shares of Empire from C$45.00 to C$42.00 in a report on Wednesday, March 8th. National Bankshares dropped their target price on shares of Empire from C$40.00 to C$38.00 and set an “outperform” rating on the stock in a report on Friday, March 10th. CIBC dropped their target price on shares of Empire from C$42.00 to C$41.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Scotiabank lowered their price target on Empire from C$43.50 to C$42.50 in a research report on Tuesday, December 6th.

Empire Stock Down 2.1 %

Shares of Empire stock opened at C$34.16 on Friday. The company has a debt-to-equity ratio of 139.09, a quick ratio of 0.29 and a current ratio of 0.75. Empire has a 52-week low of C$33.09 and a 52-week high of C$46.04. The stock has a market capitalization of C$5.48 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 16.20 and a beta of 0.43. The company’s 50 day moving average price is C$36.40 and its 200-day moving average price is C$35.90.

Insiders Place Their Bets

In other Empire news, Senior Officer Simon Gagne sold 7,360 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of C$36.00, for a total value of C$264,960.00. 1.82% of the stock is owned by insiders.

About Empire

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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.