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

Aritzia Inc. (TSE:ATZ)’s stock 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.

A number of other research firms have also weighed in on ATZ. Canaccord Genuity Group boosted their target price on shares of Aritzia from C$56.00 to C$62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. CIBC boosted their price objective 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. Raymond James lowered Aritzia from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$52.50 to C$58.00 in a research report on Tuesday, January 7th. TD Securities upped their price target on Aritzia from C$58.00 to C$68.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on Aritzia from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Aritzia has an average rating of “Moderate Buy” and a consensus price target of C$61.44.

Insiders Place Their Bets

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

Aritzia Price Performance

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

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

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.