Canaccord Genuity Group Issues Pessimistic Forecast for Aritzia (TSE:ATZ) Stock Price

Key Points

• Canaccord Genuity Group lowered its price target for Aritzia's stock from C$95.00 to C$93.00, indicating a potential upside of 8.20% from its current price.
• Despite the downgrade by Canaccord, other analysts have raised their price targets, with Desjardins increasing theirs from C$91.00 to C$95.00 and BMO Capital Markets from C$100.00 to C$104.00.
• Aritzia's stock recently surged by 8.1%, reaching C$85.95, and insider activity has seen significant shares sold by executives over the past three months.

Aritzia (TSE:ATZ - Get Free Report) had its price target decreased by analysts at Canaccord Genuity Group from C$95.00 to C$93.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canaccord Genuity Group's target price points to a potential upside of 8.20% from the stock's current price.

Several other analysts have also recently weighed in on the company. Desjardins raised their price target on Aritzia from C$91.00 to C$95.00 in a report on Friday. BMO Capital Markets lifted their price objective on Aritzia from C$100.00 to C$104.00 in a report on Friday. Royal Bank Of Canada upped their price objective on Aritzia from C$85.00 to C$94.00 in a research report on Sunday, July 13th. TD Securities raised their price objective on Aritzia from C$81.00 to C$93.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, CIBC boosted their price target on Aritzia from C$87.00 to C$94.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$93.91.

Aritzia Trading Up 8.1%

ATZ traded up C$6.41 during trading on Friday, hitting C$85.95. The company's stock had a trading volume of 1,409,060 shares, compared to its average volume of 614,490. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 93.51. Aritzia has a twelve month low of C$36.51 and a twelve month high of C$91.25. The stock's fifty day moving average price is C$81.10 and its 200-day moving average price is C$68.17. The firm has a market capitalization of C$9.87 billion, a P/E ratio of 42.98, a PEG ratio of 1.19 and a beta of 1.89.

Insider Activity at Aritzia

In related news, Director Jennifer Wong sold 20,000 shares of Aritzia stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of C$75.50, for a total transaction of C$1,510,000.00. Also, Senior Officer Todd Jeremy Ingledew sold 13,975 shares of Aritzia 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 transaction of C$1,048,125.00. Over the last 90 days, insiders have sold 94,200 shares of company stock valued at $7,000,627. 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.

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