Empire (OTCMKTS:EMLAF) Shares Up 1.7% – What’s Next?

Shares of Empire Company Limited (OTCMKTS:EMLAF) traded up 1.7% during mid-day trading on Friday. The company traded as high as $36.08 and last traded at $36.08. 139,183 shares traded hands during trading, an increase of 156% from the average daily volume of 54,346 shares. The stock had previously closed at $35.49.

Wall Street Analysts Forecast Growth

EMLAF has been the topic of several recent research reports. Canadian Imperial Bank of Commerce began coverage on Empire in a research note on Thursday, October 22nd. They issued a “neutral” rating on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Empire in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Empire Stock Performance

The firm’s 50-day simple moving average is $34.72 and its 200 day simple moving average is $35.05.

Empire Company Profile

Empire Company Limited is a Canadian food retailing and real estate company headquartered in Stellarton, Nova Scotia. Through its wholly owned subsidiary Sobeys Inc., the company operates grocery stores, pharmacies and related food retail businesses across Canada. Its retail banners include Sobeys, Safeway, IGA, Foodland, FreshCo, Chalo!, Thrifty Foods and Lawtons Drugs. Empire also offers online grocery shopping and delivery through Voilà, while its businesses serve customers through a combination of corporate-owned, franchised and independently operated locations.