Aritzia (TSE:ATZ) Hits New 52-Week High on Analyst Upgrade

Aritzia Inc. (TSE:ATZ) shares hit a new 52-week high during trading 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 trading hands. The stock had previously closed at C$56.99.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of 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 upped their price target for the stock from C$52.50 to C$58.00 in a report on Tuesday. TD Securities lifted their target price on shares of Aritzia from C$58.00 to C$68.00 in a research report on Monday. Royal Bank of Canada lifted their price objective on Aritzia from C$56.00 to C$65.00 in a report on Tuesday. Finally, CIBC increased their target price on Aritzia from C$60.00 to C$63.00 in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Aritzia has a consensus rating of “Moderate Buy” and a consensus target price of C$61.44.

Insider Transactions at Aritzia

In other Aritzia news, Director Jennifer Wong sold 2,000 shares of the 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 transaction of C$92,000.00. 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 value of C$174,800.00. Insiders have sold 77,300 shares of company stock worth $3,565,800 in the last ninety days. Insiders own 0.94% of the company’s stock.

Aritzia Trading Up 11.3 %

The firm has a fifty day moving average price of C$49.39 and a 200-day moving average price of C$46.33. The company has a market capitalization of C$5.83 billion, a P/E ratio of 93.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.83. The company has a debt-to-equity ratio of 97.38, a current ratio of 1.40 and a quick ratio of 0.19.

Aritzia (TSE:ATZ) last posted its quarterly earnings results on Thursday, October 10th. The company reported C$0.11 earnings per share for the quarter, missing the consensus estimate of C$0.13 by C($0.02). The company had revenue of C$615.66 million for the quarter, compared to the consensus estimate of C$581.10 million. Aritzia had a net margin of 3.26% and a return on equity of 9.84%. On average, equities research 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.