Aritzia (TSE:ATZ) Reaches New 52-Week High Following Analyst Upgrade

Aritzia Inc. (TSE:ATZ)’s share price reached a new 52-week high on Friday after BMO Capital Markets raised their price target on the stock from C$60.00 to C$65.00. BMO Capital Markets currently has an outperform rating on the stock. Aritzia traded as high as C$64.40 and last traded at C$63.38, with a volume of 250623 shares. The stock had previously closed at C$56.99.

Several other research analysts have also recently weighed in on the stock. Raymond James cut shares of Aritzia from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$52.50 to C$58.00 in a report on Tuesday, January 7th. CIBC upped their target price on shares of Aritzia from C$60.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. TD Securities lifted their price target on Aritzia from C$58.00 to C$68.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Canaccord Genuity Group upped their price objective on Aritzia from C$56.00 to C$62.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Stifel Nicolaus increased their price objective on Aritzia from C$58.00 to C$66.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$61.44.

Insider Activity

In other Aritzia news, Director Jennifer Wong sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of C$46.50, for a total value of C$930,000.00. Also, Senior Officer Karen Kwan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of C$46.00, for a total transaction of C$230,000.00. Over the last quarter, insiders have sold 77,300 shares of company stock valued at $3,565,800. 0.94% of the stock is owned by insiders.

Aritzia Stock Up 19.1 %

The firm has a 50 day simple moving average of C$49.86 and a two-hundred day simple moving average of C$46.52. The stock has a market capitalization of C$6.23 billion, a P/E ratio of 99.79, a PEG ratio of 1.19 and a beta of 1.83. The company has a quick ratio of 0.19, a current ratio of 1.40 and a debt-to-equity ratio of 97.38.

Aritzia (TSE:ATZ) last issued its 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). Aritzia had a return on equity of 9.84% and a net margin of 3.26%. The business had revenue of C$615.66 million for the quarter, compared to analyst estimates of C$581.10 million. On average, equities research analysts expect that Aritzia Inc. will post 1.7771148 earnings per share for the current year.

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.