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

Key Points

• Canaccord Genuity Group raised its price target on Aritzia to C$193 from C$182 and kept a buy rating, implying about 20.8% upside from the prior close.
• Several other analysts also turned more bullish recently, with price targets lifted by firms including Wells Fargo, Stifel, CIBC, UBS, and Desjardins. The stock now carries a consensus rating of Moderate Buy and an average price target of C$183.13.
• Aritzia shares rose to C$159.78 on heavier-than-usual trading, and the company recently reported C$0.96 EPS on C$951.01 million in revenue for the quarter. Analysts expect the company to earn about 1.78 EPS for the current fiscal year.

Aritzia (TSE:ATZ - Get Free Report) had its price target upped by analysts at Canaccord Genuity Group from C$182.00 to C$193.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 20.79% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on Aritzia from C$110.00 to C$140.00 in a report on Wednesday, April 29th. Stifel Nicolaus increased their target price on Aritzia from C$158.00 to C$180.00 in a report on Friday, May 8th. Canadian Imperial Bank of Commerce lifted their target price on Aritzia from C$155.00 to C$171.00 in a research report on Sunday, May 10th. UBS Group lifted their price objective on shares of Aritzia from C$189.00 to C$204.00 and gave the company a "buy" rating in a report on Friday, June 26th. Finally, Desjardins set a C$175.00 price target on shares of Aritzia and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$183.13.

Aritzia Price Performance

TSE ATZ traded up C$10.80 during trading hours on Friday, reaching C$159.78. 1,225,130 shares of the company's stock were exchanged, compared to its average volume of 689,285. The firm has a fifty day moving average of C$152.66 and a 200-day moving average of C$131.78. The stock has a market cap of C$18.31 billion, a PE ratio of 49.93, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The company has a current ratio of 1.43, a quick ratio of 0.19 and a debt-to-equity ratio of 73.16. Aritzia has a one year low of C$70.70 and a one year high of C$174.52.

Aritzia (TSE:ATZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 9th. The company reported C$0.96 earnings per share (EPS) for the quarter. The business had revenue of C$951.01 million for the quarter. Aritzia had a return on equity of 30.33% and a net margin of 10.31%. On average, equities research analysts predict that Aritzia will post 1.7771148 earnings per share for the current fiscal year.

Aritzia Company Profile

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. Its geographical segments include Canada and the United States. The company generates the majority of revenue from Retail, followed by eCommerce.

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