Royal Bank of Canada Forecasts Strong Price Appreciation for Aritzia (TSE:ATZ) Stock

Aritzia (TSE:ATZ) had its target price lifted by Royal Bank of Canada from C$56.00 to C$65.00 in a report issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 13.96% from the stock’s current price.

Several other research firms have also recently weighed in on ATZ. BMO Capital Markets raised their price target on Aritzia from C$57.00 to C$60.00 in a report on Thursday, December 19th. CIBC raised their target price on shares of Aritzia from C$60.00 to C$63.00 in a report on Monday. Stifel Nicolaus upped their price target on shares of Aritzia from C$58.00 to C$66.00 in a research note on Tuesday. Canaccord Genuity Group lifted their price objective on shares of Aritzia from C$56.00 to C$62.00 in a research note on Monday. Finally, TD Securities boosted their target price on shares of Aritzia from C$58.00 to C$68.00 in a report on Monday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Aritzia currently has a consensus rating of “Moderate Buy” and a consensus target price of C$60.89.

Aritzia Stock Performance

ATZ opened at C$57.04 on Tuesday. 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 market capitalization of C$5.24 billion, a price-to-earnings ratio of 83.88, a PEG ratio of 1.19 and a beta of 1.83. The company has a fifty day moving average of C$48.81 and a 200 day moving average of C$46.13. Aritzia has a fifty-two week low of C$25.32 and a fifty-two week high of C$59.18.

Aritzia (TSE:ATZ) last issued its quarterly earnings data 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 net margin of 3.26% and a return on equity of 9.84%. The firm had revenue of C$615.66 million for the quarter, compared to analysts’ expectations of C$581.10 million. As a group, sell-side analysts forecast that Aritzia will post 1.7771148 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jennifer Wong sold 2,000 shares of Aritzia stock in a transaction 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. Also, Senior Officer Karen Kwan sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of C$46.00, for a total transaction of C$230,000.00. Insiders sold a total of 77,300 shares of company stock valued at $3,565,800 over the last 90 days. 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.