Canaccord Genuity Group Boosts Aritzia (TSE:ATZ) Price Target to C$70.00

Aritzia (TSE:ATZ) had its price objective upped by equities researchers at Canaccord Genuity Group from C$62.00 to C$70.00 in a note issued to investors on Sunday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 3.15% from the company’s current price.

Several other research analysts have also weighed in on ATZ. BMO Capital Markets increased their price objective on Aritzia from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price target on Aritzia from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. TD Securities upped their target price on shares of Aritzia from C$68.00 to C$75.00 and gave the company a “buy” rating in a research report on Sunday. Stifel Nicolaus increased their target price on shares of Aritzia from C$58.00 to C$66.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Raymond James downgraded shares of Aritzia from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$52.50 to C$58.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$64.44.

Aritzia Trading Up 19.1 %

Shares of ATZ opened at C$67.86 on Friday. Aritzia has a 12-month low of C$29.55 and a 12-month high of C$67.94. The firm has a market capitalization of C$6.23 billion, a P/E ratio of 99.79, a P/E/G ratio of 1.19 and a beta of 1.83. The firm has a 50-day moving average price of C$49.86 and a 200 day moving average price of C$46.57. The company has a current ratio of 1.40, a quick ratio of 0.19 and a debt-to-equity ratio of 97.38.

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

Insiders Place Their Bets

In other news, Senior Officer Karen Kwan sold 6,500 shares of Aritzia stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of C$46.00, for a total value of C$299,000.00. Also, Director Jennifer Wong sold 2,000 shares of the company’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 transaction of C$92,000.00. Insiders have sold 77,300 shares of company stock worth $3,565,800 over the last three months. Company insiders own 0.94% of the company’s stock.

About Aritzia

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.