Aritzia (TSE:ATZ) Trading Down 6.2% on Analyst Downgrade

Aritzia Inc. (TSE:ATZ) shares were down 6.2% during trading on Friday after Raymond James lowered their price target on the stock from C$46.00 to C$43.00. Raymond James currently has an outperform rating on the stock. Aritzia traded as low as C$31.82 and last traded at C$33.90. Approximately 554,742 shares were traded during trading, an increase of 46% from the average daily volume of 380,748 shares. The stock had previously closed at C$36.13.

ATZ has been the subject of a number of other reports. Canaccord Genuity Group boosted their price objective on Aritzia from C$38.00 to C$40.00 and gave the stock a “buy” rating in a report on Friday. CIBC boosted their price objective on Aritzia from C$37.00 to C$41.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus upped their target price on Aritzia from C$34.00 to C$42.00 in a report on Wednesday, April 3rd. UBS Group upped their target price on Aritzia from C$39.00 to C$50.00 in a report on Thursday, February 8th. Finally, BMO Capital Markets raised Aritzia from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$41.00 to C$50.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$41.60.

Insider Activity at Aritzia

In related news, Senior Officer Philippa (Pippa) Morgan sold 1,568 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of C$40.44, for a total value of C$63,409.92. 0.55% of the stock is owned by company insiders.

Aritzia Trading Down 0.9 %

The stock has a market cap of C$3.22 billion, a PE ratio of 44.22, a P/E/G ratio of 1.19 and a beta of 1.85. The firm has a 50-day simple moving average of C$35.50 and a 200-day simple moving average of C$31.03. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 103.38.

About Aritzia

Aritzia Inc, together with its subsidiaries, designs and sells apparel and accessories for women in the United States and Canada. The company offers t-shirts and tops, sweaters, shirts and blouses, bodysuits, sweatshirts, blazers, jacket and coats, and dresses; pants, denim, leggings and bike shorts, sweatpants, skirts, shorts, sweatshorts, and jumpsuits and rompers; accessories, such as socks, hats, bags, scarves, belts, and intimates; swimwear; and shoes.