CIBC Forecasts Strong Price Appreciation for Aritzia (TSE:ATZ) Stock

Aritzia (TSE:ATZ) had its target price raised by equities researchers at CIBC from C$79.00 to C$87.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 15.78% from the company’s current price.

A number of other equities research analysts have also weighed in on ATZ. UBS Group boosted their target price on shares of Aritzia from C$61.00 to C$66.00 in a research note on Friday, May 2nd. Raymond James Financial boosted their target price on shares of Aritzia from C$60.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, June 3rd. Desjardins boosted their target price on shares of Aritzia from C$66.00 to C$84.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group decreased their target price on shares of Aritzia from C$70.00 to C$64.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, TD Securities boosted their target price on shares of Aritzia from C$70.00 to C$81.00 and gave the company a “buy” rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$81.50.

Aritzia Price Performance

Shares of ATZ opened at C$75.14 on Friday. The firm has a market cap of C$8.96 billion, a PE ratio of 66.02, a P/E/G ratio of 1.19 and a beta of 1.83. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 93.51. The firm has a fifty day simple moving average of C$67.28 and a two-hundred day simple moving average of C$60.95. Aritzia has a 1-year low of C$36.51 and a 1-year high of C$78.88.

Insider Activity

In other news, Director Jennifer Wong sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of C$68.25, for a total transaction of C$1,023,750.00. Also, Senior Officer David John Maciver sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$68.06, for a total transaction of C$340,300.00. Insiders sold a total of 60,000 shares of company stock valued at $4,042,550 in the last 90 days. Company insiders own 0.94% of the company’s stock.

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.