The Goldman Sachs Group Downgrades Torrid (NYSE:CURV) to Sell

Torrid (NYSE:CURV) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, Marketbeat reports. They currently have a $4.00 price objective on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 31.09% from the company’s current price.

CURV has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group raised their price objective on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.75.

Torrid Stock Performance

Shares of NYSE:CURV opened at $5.81 on Tuesday. The company has a market capitalization of $609.11 million, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 1.03 and a beta of 1.96. Torrid has a fifty-two week low of $2.18 and a fifty-two week high of $9.14. The company’s 50-day moving average is $5.56 and its 200 day moving average is $5.07.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $275.60 million for the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Torrid’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, research analysts predict that Torrid will post 0.14 earnings per share for the current year.

Institutional Trading of Torrid

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its stake in Torrid by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after purchasing an additional 222,504 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Torrid by 15.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,722 shares of the company’s stock worth $532,000 after buying an additional 13,781 shares in the last quarter. Geode Capital Management LLC grew its position in Torrid by 11.4% during the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after acquiring an additional 26,703 shares during the last quarter. Barclays PLC raised its stake in shares of Torrid by 354.5% during the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after acquiring an additional 13,584 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its stake in shares of Torrid by 53.6% in the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after purchasing an additional 3,509 shares in the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Company Profile

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, Torrid Curve, CURV, and Lovesick 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.