Aritzia (TSE:ATZ) Share Price Crosses Below 50 Day Moving Average - Here's Why

Aritzia Inc. (TSE:ATZ - Get Free Report) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$63.71 and traded as low as C$49.68. Aritzia shares last traded at C$50.83, with a volume of 607,694 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ATZ. Stifel Nicolaus set a C$73.00 price objective on shares of Aritzia and gave the company a "buy" rating in a research report on Thursday, March 13th. Royal Bank of Canada boosted their target price on Aritzia from C$65.00 to C$73.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Canaccord Genuity Group raised their price target on Aritzia from C$62.00 to C$70.00 and gave the stock a "buy" rating in a research report on Sunday, January 12th. TD Securities decreased their price objective on Aritzia from C$75.00 to C$74.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, BMO Capital Markets raised their target price on shares of Aritzia from C$68.00 to C$80.00 in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$62.42.

Aritzia Stock Performance

The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 93.51. The stock has a 50 day simple moving average of C$62.63 and a two-hundred day simple moving average of C$54.52. The stock has a market capitalization of C$6.22 billion, a P/E ratio of 45.82, a P/E/G ratio of 1.19 and a beta of 1.83.

Insider Buying and Selling at Aritzia

In other Aritzia news, Senior Officer Margot Johnson sold 3,500 shares of Aritzia stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of C$72.14, for a total value of C$252,490.00. Also, Director Jennifer Wong sold 12,609 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of C$68.75, for a total transaction of C$866,868.75. Insiders sold a total of 56,298 shares of company stock worth $3,801,028 over the last quarter. 0.94% of the stock is currently owned by insiders.

About Aritzia

Aritzia Inc is an integrated design house of exclusive fashion brands. It designs apparel and accessories for its collection of exclusive brands and sells them under the Aritzia banner. The category of products offered by the firm is blouses, T-shirts, pants, dresses, sweaters, jackets and coats, skirts, shorts, jumpsuits, and accessories.