CIBC Raises Aritzia (TSE:ATZ) Price Target to C$52.00

Aritzia (TSE:ATZ) had its price target raised by equities researchers at CIBC to C$52.00 in a research note issued on Thursday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 10.52% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. TD Securities boosted their price objective on Aritzia from C$36.00 to C$44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 6th. Canaccord Genuity boosted their price objective on Aritzia to C$50.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank set a C$41.00 price objective on Aritzia and gave the stock an “outperform” rating in a research note on Wednesday, June 16th. Royal Bank of Canada cut Aritzia from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$40.00 to C$43.00 in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Aritzia in a research note on Tuesday, October 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$45.50.

Shares of ATZ stock traded up C$6.51 during trading hours on Thursday, hitting C$47.05. The stock had a trading volume of 621,460 shares, compared to its average volume of 296,669. Aritzia has a one year low of C$18.99 and a one year high of C$47.98. The company has a debt-to-equity ratio of 150.59, a current ratio of 1.18 and a quick ratio of 0.57. The stock’s 50-day moving average price is C$40.74 and its two-hundred day moving average price is C$35.63. The stock has a market capitalization of C$5.18 billion and a price-to-earnings ratio of 84.17.

Aritzia (TSE:ATZ) last issued its quarterly earnings data on Tuesday, July 13th. The company reported C$0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.17. The company had revenue of C$246.92 million for the quarter, compared to the consensus estimate of C$234.20 million. As a group, equities research analysts predict that Aritzia will post 1.34 earnings per share for the current fiscal year.

In other Aritzia news, Senior Officer Philippa (Pippa) Morgan sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of C$35.05, for a total transaction of C$700,948.00.

Aritzia Company Profile

Aritzia Inc, together with its subsidiaries, designs and sells apparels and accessories for women in North America. It offers sweatshirts, leggings, blouses, pants, dresses, T-shirts, bodysuits, shorts, skirts, jackets and coats, sweaters, and denims; and accessories, including bralettes and sports bras, hats, bags and pouches, shoes and sneakers, socks and tights, belts, scarves, iPhone cases, and gloves and mittens.

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