CIBC Forecasts Strong Price Appreciation for Aritzia (TSE:ATZ) Stock

Aritzia (TSE:ATZ) had its target price increased by equities researchers at CIBC from C$60.00 to C$63.00 in a research report issued on Monday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 6.98% from the company’s current price.

Several other analysts also recently commented on ATZ. BMO Capital Markets raised their target price on shares of Aritzia from C$57.00 to C$60.00 in a report on Thursday, December 19th. Royal Bank of Canada upgraded shares of Aritzia from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 31st. TD Securities increased their target price on shares of Aritzia from C$58.00 to C$68.00 in a research report on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Aritzia from C$50.00 to C$58.00 in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$57.89.

Aritzia Price Performance

TSE:ATZ traded up C$1.29 during mid-day trading on Monday, reaching C$58.89. 533,226 shares of the stock were exchanged, compared to its average volume of 580,559. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 97.38. The business has a fifty day moving average price of C$48.24 and a 200 day moving average price of C$45.85. Aritzia has a 1-year low of C$24.96 and a 1-year high of C$59.18. The firm has a market capitalization of C$5.41 billion, a PE ratio of 86.60, a PEG ratio of 1.19 and a beta of 1.83.

Aritzia (TSE:ATZ) last announced its quarterly earnings results on Thursday, October 10th. The company reported C$0.11 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.02). Aritzia had a return on equity of 9.84% and a net margin of 3.26%. The company had revenue of C$615.66 million during the quarter, compared to analyst estimates of C$581.10 million. Research analysts expect that Aritzia will post 1.7771148 earnings per share for the current fiscal year.

Insider Activity at Aritzia

In related news, Senior Officer Karen Kwan sold 3,800 shares of Aritzia stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$46.00, for a total value of C$174,800.00. Also, Director Jennifer Wong sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$46.00, for a total value of C$92,000.00. Insiders sold a total of 77,300 shares of company stock worth $3,565,800 over the last 90 days. Company insiders own 0.94% of the company’s stock.

Aritzia Company Profile

Aritzia Inc, together with its subsidiaries, designs, develops, and sells apparels and accessories for women in the United States and Canada. The company offers activewear, blazers and suiting, bodysuits, denim, dresses, jackets and coats, jumpsuits and rompers, leggings and bike shorts, pants, shirts and blouses, shorts, skirts, sweaters, and sweatpants, sweatshirts, hoodies, and sweats, as well as t-shirts, tops, intimates, bra tops, leaotards.