Empire (TSE:EMP.A) Price Target Cut to C$42.00 by Analysts at TD Securities

Empire (TSE:EMP.A – Get Rating) had its target price cut by research 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 brokerage currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 22.95% from the company’s previous close.

Several other equities research analysts also recently weighed in on EMP.A. ATB Capital decreased their price objective on Empire from C$45.00 to C$42.00 in a report on Wednesday, March 8th. Scotiabank decreased their price target on Empire from C$43.50 to C$42.50 in a report on Tuesday, December 6th. National Bankshares cut their price objective on Empire from C$40.00 to C$38.00 and set an “outperform” rating for the company in a research report on Friday, March 10th. CIBC dropped their price target on Empire from C$42.00 to C$41.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Desjardins dropped their price target on Empire from C$44.00 to C$41.00 in a research report on Friday.

Empire Stock Performance

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

Insider Activity

In related news, Senior Officer Simon Gagne sold 7,360 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of C$36.00, for a total transaction of C$264,960.00. Company insiders own 1.82% of the company’s stock.

Empire Company Profile

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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.