Canaccord Genuity Group Forecasts Strong Price Appreciation for Aritzia (TSE:ATZ) Stock

Aritzia (TSE:ATZ - Get Free Report) had its price objective lifted by Canaccord Genuity Group from C$56.00 to C$62.00 in a research report issued on Monday,BayStreet.CA reports. Canaccord Genuity Group's price objective suggests a potential upside of 6.58% from the company's previous close.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada upgraded shares of Aritzia from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 31st. CIBC lifted their price objective on Aritzia from C$60.00 to C$63.00 in a research note on Monday. TD Securities raised their price target on Aritzia from C$58.00 to C$68.00 in a report on Monday. Stifel Nicolaus lifted their price target on Aritzia from C$50.00 to C$58.00 in a research report on Friday, October 11th. Finally, BMO Capital Markets increased their price objective on shares of Aritzia from C$57.00 to C$60.00 in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$57.89.

Aritzia Trading Up 1.0 %

Shares of TSE ATZ traded up C$0.57 during midday trading on Monday, hitting C$58.17. 886,700 shares of the company traded hands, compared to its average volume of 710,153. Aritzia has a 12-month low of C$24.96 and a 12-month high of C$59.18. The firm 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 stock has a 50-day moving average price of C$48.53 and a 200 day moving average price of C$46.05. The company has a debt-to-equity ratio of 97.38, a quick ratio of 0.19 and a current ratio of 1.40.

Aritzia (TSE:ATZ - Get Free Report) last released its earnings results 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 return on equity of 9.84% and a net margin of 3.26%. The business had revenue of C$615.66 million during the quarter, compared to analysts' expectations of C$581.10 million. As a group, analysts expect that Aritzia will post 1.7771148 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jennifer Wong sold 20,000 shares of Aritzia stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$46.00, for a total value of C$920,000.00. Also, Senior Officer Karen Kwan sold 3,800 shares of the firm's 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. In the last 90 days, insiders sold 77,300 shares of company stock valued at $3,565,800. 0.94% of the stock is 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.