Torrid (NYSE:CURV) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Torrid (NYSE:CURVGet Rating) from a hold rating to a buy rating in a report released on Monday morning, Zacks.com reports. The brokerage currently has $6.25 price objective on the stock.

According to Zacks, “Torrid Holdings Inc. is a direct-to-consumer brand of apparel, intimates and accessories principally in North America. It is focused on fit and offers products across a broad assortment which includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories. Torrid Holdings Inc. is based in Calif. “

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of Torrid from $12.00 to $9.00 and set a neutral rating on the stock in a report on Monday, March 21st. Morgan Stanley lowered their target price on shares of Torrid from $12.00 to $11.00 and set an equal weight rating on the stock in a research note on Monday, March 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $17.97.

Shares of Torrid stock opened at $5.19 on Monday. Torrid has a 12-month low of $5.02 and a 12-month high of $33.19. The company’s 50-day moving average price is $6.34 and its 200-day moving average price is $9.66.

Torrid (NYSE:CURVGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The firm had revenue of $313.94 million during the quarter, compared to analysts’ expectations of $302.60 million. Torrid’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts anticipate that Torrid will post 0.99 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sycamore Partners Management L.P. bought a new position in Torrid during the fourth quarter valued at approximately $813,638,000. Franklin Resources Inc. bought a new position in Torrid during the third quarter valued at approximately $28,145,000. BlackRock Inc. grew its holdings in shares of Torrid by 15.8% in the first quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock worth $5,369,000 after purchasing an additional 120,915 shares during the last quarter. FIL Ltd bought a new position in shares of Torrid in the third quarter worth approximately $13,418,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new position in shares of Torrid in the fourth quarter worth approximately $8,487,000. Institutional investors and hedge funds own 90.86% of the company’s stock.

About Torrid (Get Rating)

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.

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