Aritzia (TSE:ATZ) Shares Down 4.3% After Earnings Miss

Aritzia Inc. (TSE:ATZ)’s share price was down 4.3% on Friday following a dissappointing earnings announcement. The company traded as low as C$46.74 and last traded at C$47.86. Approximately 69,417 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 350,064 shares. The stock had previously closed at C$50.02.

The company reported C$0.11 EPS for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.02). The business had revenue of C$615.66 million for the quarter, compared to the consensus estimate of C$581.10 million. Aritzia had a net margin of 3.26% and a return on equity of 9.84%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ATZ shares. Raymond James lifted their price objective on Aritzia from C$43.00 to C$48.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. TD Securities lowered their price target on Aritzia from C$60.00 to C$58.00 in a research report on Friday. CIBC increased their price objective on shares of Aritzia from C$47.00 to C$60.00 in a research report on Friday. Royal Bank of Canada lifted their target price on shares of Aritzia from C$47.00 to C$56.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group increased their price target on shares of Aritzia from C$46.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$55.38.

Insider Activity at Aritzia

In other Aritzia news, Director Jennifer Wong sold 11,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of C$47.75, for a total value of C$563,450.00. In related news, Director Jennifer Wong sold 11,800 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of C$47.75, for a total transaction of C$563,450.00. Also, Senior Officer Karen Kwan sold 10,000 shares of Aritzia stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of C$47.70, for a total transaction of C$477,000.00. 0.94% of the stock is owned by company insiders.

Aritzia Stock Down 5.6 %

The business has a 50-day moving average of C$46.60 and a 200 day moving average of C$40.70. The company has a market capitalization of C$4.33 billion, a PE ratio of 69.41, a P/E/G ratio of 1.19 and a beta of 1.83. The company has a debt-to-equity ratio of 97.38, a current ratio of 1.40 and a quick ratio of 0.19.

Aritzia Company Profile

Aritzia Inc, together with its subsidiaries, designs, develops, and sells apparels and accessories for women in the United States and Canada. The company offers activewear, blazers and suiting, bodysuits, denim, dresses, jackets and coats, jumpsuits and rompers, leggings and bike shorts, pants, shirts and blouses, shorts, skirts, sweaters, and sweatpants, sweatshirts, hoodies, and sweats, as well as t-shirts, tops, intimates, bra tops, leaotards.