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

Aritzia (TSE:ATZ) had its target price hoisted by CIBC from C$60.00 to C$63.00 in a research report sent to investors on Monday,BayStreet.CA reports.

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

Aritzia Trading Up 1.0 %

TSE:ATZ opened at C$58.17 on Monday. Aritzia has a 1 year low of C$24.96 and a 1 year high of C$59.18. The stock has a market cap of C$5.34 billion, a P/E ratio of 85.54, a P/E/G ratio of 1.19 and a beta of 1.83. The company has a debt-to-equity ratio of 97.38, a quick ratio of 0.19 and a current ratio of 1.40. The stock has a 50-day simple moving average of C$48.53 and a 200-day simple moving average of C$46.05.

Aritzia (TSE:ATZ) last announced its quarterly earnings results on Thursday, October 10th. The company reported C$0.11 EPS for the quarter, missing the consensus estimate of C$0.13 by C($0.02). The company 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%. As a group, analysts anticipate that Aritzia will post 1.7771148 earnings per share for the current fiscal year.

Insider Transactions at Aritzia

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

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.