Empire (TSE:EMP.A) Reaches New 12-Month High at $38.77

Empire Company Limited (TSE:EMP.A) shares reached a new 52-week high on Wednesday . The company traded as high as C$38.77 and last traded at C$38.60, with a volume of 38714 shares trading hands. The stock had previously closed at C$38.30.

A number of research analysts have recently commented on EMP.A shares. National Bank Financial upped their price target on Empire from C$39.00 to C$42.00 and gave the company an “outperform” rating in a research report on Sunday. TD Securities raised shares of Empire from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$37.00 to C$43.00 in a research note on Friday, September 11th. CIBC boosted their price objective on shares of Empire from C$37.00 to C$40.00 in a report on Thursday, July 23rd. BMO Capital Markets increased their target price on shares of Empire from C$39.00 to C$41.00 in a report on Friday, September 11th. Finally, Scotiabank boosted their price target on shares of Empire from C$44.00 to C$45.00 in a research note on Friday, September 11th.

The company has a debt-to-equity ratio of 168.93, a current ratio of 0.85 and a quick ratio of 0.44. The stock’s 50-day moving average is C$35.43 and its two-hundred day moving average is C$32.20. The company has a market cap of $10.31 billion and a P/E ratio of 16.09.

In related news, Senior Officer Vivek Sood sold 803 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of C$33.64, for a total value of C$27,012.92. Following the completion of the sale, the insider now directly owns 3,957 shares of the company’s stock, valued at approximately C$133,113.48. Also, Senior Officer Simon Gagne sold 23,834 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of C$38.00, for a total transaction of C$905,692.00. Following the sale, the insider now owns 16,356 shares in the company, valued at approximately C$621,528.

About Empire (TSE:EMP.A)

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.

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