CIBC Sticks to Their Buy Rating for Aritzia (ATZAF)

In a report released today, Mark Petrie from CIBC maintained a Buy rating on Aritzia, with a price target of C$95.00. The company’s shares opened today at $60.00.

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According to TipRanks, Petrie is a 5-star analyst with an average return of 16.9% and a 67.82% success rate. Petrie covers the Consumer Cyclical sector, focusing on stocks such as Aritzia, Gildan Activewear, and BRP.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aritzia with a $70.35 average price target, which is a 17.25% upside from current levels. In a report released today, UBS also reiterated a Buy rating on the stock with a C$118.00 price target.

Based on Aritzia’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $663.32 million and a net profit of $42.39 million. In comparison, last year the company earned a revenue of $498.63 million and had a net profit of $15.83 million

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATZAF in relation to earlier this year.