CIBC Raises Aritzia (ATZ) Price Target to C$23.00

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Aritzia (TSE:ATZ) had its price target raised by CIBC from C$22.00 to C$23.00 in a research note issued to investors on Wednesday.

Several other analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Aritzia from C$20.00 to C$21.00 in a research note on Friday, October 19th. TD Securities boosted their price target on shares of Aritzia from C$20.00 to C$21.00 and gave the stock a buy rating in a research note on Friday, October 5th. Royal Bank of Canada boosted their price target on shares of Aritzia from C$21.00 to C$22.00 and gave the stock an outperform rating in a research note on Friday, October 5th. Finally, Robert W. Baird set a C$20.00 price target on shares of Aritzia in a research note on Wednesday, January 2nd.

ATZ stock traded down C$0.58 during mid-day trading on Wednesday, hitting C$15.97. The company had a trading volume of 1,347,081 shares, compared to its average volume of 460,447. Aritzia has a 12-month low of C$11.59 and a 12-month high of C$19.79. The company has a current ratio of 2.03, a quick ratio of 0.65 and a debt-to-equity ratio of 23.44.

Aritzia (TSE:ATZ) last announced its quarterly earnings results on Wednesday, January 9th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.27 by C$0.01. The company had revenue of C$242.88 million during the quarter, compared to analysts’ expectations of C$235.50 million. On average, sell-side analysts forecast that Aritzia will post 0.930000037623263 EPS for the current fiscal year.

In other news, insider Philippa (Pippa) Morgan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of C$18.80, for a total transaction of C$376,000.00. Also, Director Jennifer Michelle Wong Neal sold 32,738 shares of the company’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of C$18.23, for a total transaction of C$596,813.74. Insiders have sold a total of 65,538 shares of company stock worth $1,207,959 over the last 90 days.

About Aritzia

Aritzia Inc, together with its subsidiaries, operates as a design house and fashion retailer of women's apparel and accessories. The company designs and sells blouses, T-shirts, pants, dresses, sweaters, jackets and coats, skirts, shorts, denim, leggings, sweatshirts, bodysuits, puffers, jumpsuits, and intimates; and accessories, including hats, scarves, bags and pouches, socks and tights, belts, iPhone cases, and gloves.

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