Aritzia (TSE:ATZ) Reaches New 12-Month High After Analyst Upgrade

Aritzia Inc. (TSE:ATZ) shares 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 traded. The stock had previously closed at C$56.99.

Several other equities analysts have also commented on ATZ. Canaccord Genuity Group increased their target price on shares of Aritzia from C$56.00 to C$62.00 in a report on Monday. Stifel Nicolaus raised their price objective on Aritzia from C$58.00 to C$66.00 in a research note on Tuesday. Raymond James lowered Aritzia from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$52.50 to C$58.00 in a research note on Tuesday. CIBC raised their price target on Aritzia from C$60.00 to C$63.00 in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on Aritzia from C$56.00 to C$65.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$61.44.

Insider Activity

In related news, Senior Officer Karen Kwan sold 5,000 shares of the firm’s stock in a transaction that occurred 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. Also, Director Jennifer Wong sold 2,000 shares of the company’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 three months. 0.94% of the stock is currently owned by corporate insiders.

Aritzia Stock Up 11.3 %

The company has a market capitalization of C$5.83 billion, a PE ratio of 93.29, 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. The company’s 50 day moving average is C$49.39 and its two-hundred day moving average is C$46.33.

Aritzia (TSE:ATZ) last announced its quarterly earnings results on Thursday, October 10th. The company reported C$0.11 EPS 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 the consensus estimate of C$581.10 million. On average, analysts anticipate that Aritzia Inc. will post 1.7771148 earnings per share for the current 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.