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

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on EMLAF. Scotiabank restated a “sector perform” rating on shares of Empire in a report on Wednesday, September 2nd. Canadian Imperial Bank of Commerce started coverage on Empire in a research report on Thursday, October 22nd. They set a “neutral” rating on the stock. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Empire Stock Up 1.7%

The company’s fifty day moving average price is $34.72 and its two-hundred day moving average price is $35.05.

About Empire

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.