Aritzia (TSE:ATZ) Given New C$50.00 Price Target at Canaccord Genuity

Aritzia (TSE:ATZ) had its price objective boosted by equities researchers at Canaccord Genuity to C$50.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 6.27% from the company’s previous close.

Other research analysts have also issued research reports about the company. CIBC increased their price target on Aritzia from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 14th. Scotiabank set a C$41.00 target price on Aritzia and gave the stock an “outperform” rating in a research report on Wednesday, June 16th. TD Securities increased their target price on Aritzia from C$36.00 to C$44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 6th. BMO Capital Markets reaffirmed a “buy” rating on shares of Aritzia in a research report on Tuesday, October 5th. Finally, Royal Bank of Canada lowered Aritzia from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$40.00 to C$43.00 in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$45.50.

Shares of Aritzia stock traded up C$6.51 during trading hours on Thursday, reaching C$47.05. 621,460 shares of the company’s stock were exchanged, compared to its average volume of 296,669. Aritzia has a 52-week low of C$18.99 and a 52-week high of C$47.98. The firm has a market capitalization of C$5.18 billion and a price-to-earnings ratio of 84.17. The company has a fifty day moving average of C$40.74 and a 200-day moving average of C$35.63. The company has a current ratio of 1.18, a quick ratio of 0.57 and a debt-to-equity ratio of 150.59.

Aritzia (TSE:ATZ) last issued its quarterly earnings results on Tuesday, July 13th. The company reported C$0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.17. The business had revenue of C$246.92 million for the quarter, compared to analysts’ expectations of C$234.20 million. On average, equities research analysts anticipate 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 firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of C$35.05, for a total value 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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