National Bankshares Boosts Empire (TSE:EMP.A) Price Target to C$46.00

Empire (TSE:EMP.A) had its price objective hoisted by National Bankshares from C$42.00 to C$46.00 in a research note released on Friday morning, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Several other brokerages have also issued reports on EMP.A. BMO Capital Markets increased their price target on Empire from C$40.00 to C$43.00 and gave the stock a market perform rating in a report on Friday. Royal Bank of Canada increased their target price on Empire from C$41.00 to C$42.00 and gave the stock a sector perform rating in a report on Friday. CIBC boosted their price target on shares of Empire from C$40.00 to C$47.00 and gave the company an outperform rating in a research note on Friday. TD Securities raised their price objective on shares of Empire from C$38.00 to C$44.00 and gave the company a hold rating in a research note on Friday. Finally, Desjardins lifted their price objective on shares of Empire from C$42.00 to C$44.00 and gave the company a buy rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of C$43.14.

Empire Price Performance

Shares of TSE EMP.A opened at C$39.76 on Friday. The firm has a market capitalization of C$5.70 billion, a P/E ratio of 13.62, a P/E/G ratio of 16.20 and a beta of 0.47. The firm’s 50-day moving average price is C$37.12 and its 200-day moving average price is C$34.51. The company has a current ratio of 0.80, a quick ratio of 0.29 and a debt-to-equity ratio of 134.59. Empire has a 1-year low of C$31.45 and a 1-year high of C$41.38.

Empire Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $0.80 annualized dividend and a yield of 2.01%. This is a boost from Empire’s previous quarterly dividend of $0.18. Empire’s payout ratio is currently 27.40%.

Insider Activity

In other Empire news, Director William Linton sold 7,058 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the transaction, the director now directly owns 875 shares in the company, valued at C$30,087.05. In other Empire news, Senior Officer Pierre St-Laurent sold 3,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total transaction of C$108,960.00. Also, Director William Linton sold 7,058 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the completion of the sale, the director now directly owns 875 shares in the company, valued at approximately C$30,087.05. Insiders sold a total of 14,294 shares of company stock valued at $504,880 in the last ninety days. 2.15% of the stock is currently owned by insiders.

Empire Company Profile

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.