Empire Company Limited (OTCMKTS:EMLAF) has been given an average recommendation of “Buy” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.33.
EMLAF has been the subject of several research analyst reports. CIBC raised their price target on Empire from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. Desjardins raised their price target on Empire from C$44.00 to C$45.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Finally, BMO Capital Markets lowered their price target on Empire from C$47.00 to C$45.00 and set an “outperform” rating for the company in a research report on Friday, June 25th.
Shares of EMLAF stock traded up $0.18 during trading hours on Thursday, reaching $31.61. 4,604 shares of the company traded hands, compared to its average volume of 4,850. Empire has a 12-month low of $24.51 and a 12-month high of $34.90. The stock’s 50-day moving average price is $33.14.
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, Farm Boy, Longo's, and Lawtons Drugs; and approximately 350 retail fuel locations, as well as operates grocery e-commerce stores under the banners, such as VoilÃ by Sobeys, Grocery Gateway, IGA.net, and ThriftyFoods.com.
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