Empire (EMP.A) Downgraded by Desjardins to “Hold”

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Desjardins lowered shares of Empire (TSE:EMP.A) from a buy rating to a hold rating in a report issued on Tuesday. They currently have C$30.50 price objective on the stock, down from their prior price objective of C$32.00.

Other equities analysts also recently issued reports about the stock. Barclays upped their price objective on shares of Empire from C$31.00 to C$32.00 in a research note on Friday, December 14th. Royal Bank of Canada upped their price objective on shares of Empire from C$29.00 to C$30.00 in a research note on Friday, December 14th. TD Securities upped their price objective on shares of Empire from C$30.00 to C$32.00 and gave the company a hold rating in a research note on Tuesday, January 15th. Raymond James reaffirmed a market perform rating and set a C$31.00 price objective on shares of Empire in a research note on Wednesday, March 6th. Finally, BMO Capital Markets upped their price objective on shares of Empire from C$30.00 to C$32.00 and gave the company an outperform rating in a research note on Friday, December 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Empire currently has a consensus rating of Buy and a consensus price target of C$31.72.

Shares of TSE:EMP.A opened at C$28.44 on Tuesday. The stock has a market cap of $4.93 billion and a PE ratio of 23.52. The company has a quick ratio of 0.47, a current ratio of 1.12 and a debt-to-equity ratio of 41.48. Empire has a 12 month low of C$17.43 and a 12 month high of C$26.34.

About Empire

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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Analyst Recommendations for Empire (TSE:EMP.A)

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