Aritzia (TSE:ATZ) Price Target Cut to C$1.20 by Analysts at CIBC

Aritzia (TSE:ATZ) had its price target lowered by equities research analysts at CIBC from C$1.80 to C$1.20 in a report issued on Friday,BayStreet.CA reports. The firm currently has an “underperform” rating on the stock. CIBC’s target price points to a potential downside of 97.73% from the stock’s current price.

A number of other research firms have also recently issued reports on ATZ. BMO Capital Markets raised their price target on shares of Aritzia from C$68.00 to C$80.00 in a report on Friday, February 14th. Canaccord Genuity Group raised their price target on shares of Aritzia from C$62.00 to C$70.00 and gave the stock a “buy” rating in a report on Sunday, January 12th. TD Securities raised their price target on shares of Aritzia from C$68.00 to C$75.00 and gave the stock a “buy” rating in a report on Sunday, January 12th. Stifel Nicolaus set a C$73.00 price objective on shares of Aritzia and gave the stock a “buy” rating in a research note on Thursday. Finally, Desjardins set a C$82.00 price objective on shares of Aritzia and gave the stock a “buy” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$62.52.

Aritzia Stock Performance

Shares of TSE ATZ traded up C$0.59 during midday trading on Friday, reaching C$52.82. The company had a trading volume of 369,443 shares, compared to its average volume of 690,757. The business’s 50-day simple moving average is C$65.90 and its 200 day simple moving average is C$53.86. The stock has a market cap of C$6.30 billion, a P/E ratio of 46.41, a P/E/G ratio of 1.19 and a beta of 1.83. Aritzia has a 1 year low of C$31.82 and a 1 year high of C$73.44. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 93.51.

Insider Activity at Aritzia

In other Aritzia news, Senior Officer Todd Jeremy Ingledew sold 7,200 shares of Aritzia stock in a transaction dated Friday, January 17th. The shares were sold at an average price of C$68.50, for a total transaction of C$493,200.00. Also, Senior Officer Karen Kwan sold 29,966 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of C$65.96, for a total transaction of C$1,976,557.36. Over the last quarter, insiders have sold 56,298 shares of company stock worth $3,801,028. 0.94% of the stock is owned by company 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.