Canadian Imperial Bank of Commerce Increases Aritzia (TSE:ATZ) Price Target to C$171.00

Aritzia (TSE:ATZ) had its target price hoisted by analysts at Canadian Imperial Bank of Commerce from C$155.00 to C$171.00 in a research note issued to investors on Sunday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would indicate a potential upside of 15.27% from the stock’s previous close.

A number of other analysts also recently issued reports on ATZ. Canaccord Genuity Group lifted their price objective on shares of Aritzia from C$166.00 to C$182.00 and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada raised their target price on shares of Aritzia from C$150.00 to C$175.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Wells Fargo & Company raised their target price on shares of Aritzia from C$110.00 to C$140.00 in a research note on Wednesday, April 29th. Desjardins raised their target price on shares of Aritzia from C$148.00 to C$175.00 and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets raised their target price on shares of Aritzia from C$163.00 to C$188.00 in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$166.54.

Aritzia Stock Up 4.5%

ATZ stock traded up C$6.35 during mid-day trading on Friday, hitting C$148.35. 1,300,184 shares of the company were exchanged, compared to its average volume of 700,316. The company has a debt-to-equity ratio of 73.16, a quick ratio of 0.19 and a current ratio of 1.43. Aritzia has a 1-year low of C$57.98 and a 1-year high of C$156.00. The firm has a market cap of C$17.18 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.19 and a beta of 2.11. The firm’s 50 day simple moving average is C$123.48 and its 200 day simple moving average is C$116.01.

Aritzia News Roundup

Here are the key news stories impacting Aritzia this week:

• Positive Sentiment: Aritzia reported Q4 profit that rose 35% year over year, with net revenue up almost 33%, signaling strong demand and healthy operating momentum. Aritzia’s Q4 profit spikes 35% from last year, net revenue up almost 33%
• Positive Sentiment: Multiple brokerages raised their price targets and maintained or reiterated buy ratings, including TD, BMO Capital Markets, Canaccord Genuity, Desjardins, Stifel, and Truist, suggesting analysts see further upside after the earnings beat. Analyst price target updates
• Positive Sentiment: New targets now cluster well above the recent share price, with several firms calling for C$175 to C$188 per share, reinforcing a bullish outlook for Aritzia’s growth and valuation. BMO price target update
• Neutral Sentiment: Coverage sources also noted that Aritzia now carries a consensus “Buy” recommendation from analysts, which supports sentiment but is largely a confirmation of already positive expectations. Consensus Buy recommendation

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