Torrid (NYSE:CURV) Upgraded at Zacks Research

Zacks Research upgraded shares of Torrid (NYSE:CURV) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a report on Wednesday, January 21st. Morgan Stanley reiterated an “underweight” rating and issued a $1.01 target price on shares of Torrid in a research report on Thursday, December 4th. Bank of America cut their target price on shares of Torrid from $6.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, December 4th. The Goldman Sachs Group cut their price objective on Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a research report on Friday, December 5th. Finally, William Blair cut Torrid from an “outperform” rating to a “market perform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $1.44.

Torrid Price Performance

NYSE CURV opened at $1.15 on Monday. Torrid has a 1-year low of $0.94 and a 1-year high of $6.95. The business has a 50 day simple moving average of $1.14 and a two-hundred day simple moving average of $1.58. The stock has a market capitalization of $113.58 million, a PE ratio of -114.50 and a beta of 1.50.

Torrid (NYSE:CURV) last posted its earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.The business had revenue of $235.15 million during the quarter, compared to the consensus estimate of $239.90 million. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, analysts anticipate that Torrid will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Torrid news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Torrid stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total value of $32,750.00. Following the completion of the transaction, the insider directly owned 9,904,856 shares of the company’s stock, valued at $12,975,361.36. The trade was a 0.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Torrid by 27.1% in the first quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after acquiring an additional 4,673 shares during the last quarter. State of Wyoming grew its holdings in shares of Torrid by 17.3% during the second quarter. State of Wyoming now owns 44,628 shares of the company’s stock worth $132,000 after buying an additional 6,580 shares during the last quarter. Creative Planning raised its stake in shares of Torrid by 45.4% during the second quarter. Creative Planning now owns 37,291 shares of the company’s stock worth $110,000 after purchasing an additional 11,641 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Torrid by 985.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock worth $42,000 after acquiring an additional 22,030 shares during the period. Finally, Royce & Associates LP boosted its holdings in Torrid by 161.4% in the 3rd quarter. Royce & Associates LP now owns 41,868 shares of the company’s stock valued at $73,000 after purchasing an additional 25,854 shares in the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.