Aritzia (TSE:ATZ) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC has raised its price target for Aritzia shares from C$87.00 to C$94.00, indicating a potential upside of 15.54% from the current stock price.
• Several analysts have also upgraded their ratings and price targets for Aritzia, with consensus ratings showing a strong Buy sentiment from nine analysts.
• Despite the positive outlook, Aritzia’s stock has recently declined by 3.3%, trading at C$81.36.

Aritzia (TSE:ATZ - Get Free Report) had its price target boosted by research analysts at CIBC from C$87.00 to C$94.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. CIBC's price target points to a potential upside of 15.54% from the stock's current price.

ATZ has been the subject of several other research reports. TD Securities upped their price target on shares of Aritzia from C$81.00 to C$93.00 and gave the company a "buy" rating in a research report on Friday, July 11th. BMO Capital Markets boosted their target price on Aritzia from C$92.00 to C$100.00 in a report on Tuesday, September 23rd. Desjardins boosted their target price on Aritzia from C$66.00 to C$84.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Canaccord Genuity Group lifted their target price on Aritzia from C$84.00 to C$95.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Truist Financial set a C$85.00 target price on shares of Aritzia and gave the company a "buy" rating in a research report on Thursday, August 21st. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$89.40.

Aritzia Stock Down 3.3%

ATZ traded down C$2.82 on Wednesday, reaching C$81.36. The company's stock had a trading volume of 465,071 shares, compared to its average volume of 613,964. The stock has a market cap of C$9.34 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.76. The company has a debt-to-equity ratio of 93.51, a current ratio of 1.29 and a quick ratio of 0.19. Aritzia has a 1 year low of C$36.51 and a 1 year high of C$90.12. The business's 50 day moving average is C$80.08 and its 200 day moving average is C$66.87.

Insider Buying and Selling at Aritzia

In other news, Senior Officer Karen Kwan sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of C$75.00, for a total value of C$225,000.00. Also, Director Jennifer Wong sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of C$75.50, for a total transaction of C$1,510,000.00. In the last ninety days, insiders sold 94,200 shares of company stock valued at $7,000,627. 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.

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