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

Shares of Aritzia Inc. (TSE:ATZ) traded down 6.2% during mid-day 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. 554,742 shares traded hands during trading, an increase of 46% from the average session volume of 380,748 shares. The stock had previously closed at C$36.13.

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

Insiders Place Their Bets

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

Aritzia Stock Down 0.9 %

The firm’s 50 day simple moving average is C$35.52 and its 200 day simple moving average is C$30.91. The company has a market cap of C$3.22 billion, a price-to-earnings ratio of 43.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.85. The company has a quick ratio of 0.19, a current ratio of 1.32 and a debt-to-equity ratio of 103.38.

Aritzia Company Profile

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.