Empire (OTCMKTS:EMLAF) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Empire Company Limited (OTCMKTS:EMLAF) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.18 and traded as low as $33.07. Empire shares last traded at $33.52, with a volume of 74,400 shares trading hands.

Analysts Set New Price Targets

EMLAF has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Empire in a research note on Friday, June 19th. Scotiabank reissued a “sector perform” rating on shares of Empire in a research report on Wednesday, September 2nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Empire in a research note on Saturday, June 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Empire Trading Down 2.4%

The company’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $35.17.

Empire Company Profile

Empire Company Limited trades on the OTC Pink under the symbol EMLAF. It is a leading Canadian food retailer and distributor, operating a network of more than 1,500 locations across all provinces. The company’s retail segment includes national and regional banners such as Sobeys, Safeway (Western Canada), FreshCo, IGA (Quebec), Foodland (Atlantic Canada), Thrifty Foods and Price Chopper (Ontario). Through its wholesale division, Empire serves independent grocers and franchises markets under the Empire Wholesale Club and other distribution outlets.

In addition to traditional supermarket operations, Empire has expanded its digital and e-commerce capabilities, offering online grocery ordering and home delivery services to meet shifting consumer preferences.