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

Aritzia Inc. (TSE:ATZ) fell 4.3% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as C$46.74 and last traded at C$47.86. 69,417 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 350,064 shares. The stock had previously closed at C$50.02.

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

Analyst Ratings Changes

ATZ has been the topic of several research reports. Canaccord Genuity Group upped their price objective on shares of Aritzia from C$46.00 to C$52.00 and gave the stock a “buy” rating in a report on Monday, July 29th. CIBC increased their price objective on Aritzia from C$47.00 to C$60.00 in a research note on Friday. TD Securities cut their target price on Aritzia from C$60.00 to C$58.00 in a research report on Friday. Royal Bank of Canada increased their price target on Aritzia from C$47.00 to C$56.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 2nd. Finally, Raymond James raised their price target on shares of Aritzia from C$43.00 to C$48.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One 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 an average rating of “Moderate Buy” and a consensus price target of C$55.38.

Insiders Place Their Bets

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

Aritzia Stock Down 5.6 %

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

About Aritzia

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.