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 research note published on Wednesday,Zacks.com reports.

CURV has been the topic of a number of other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Torrid in a report on Monday, March 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Torrid in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $1.44.

Torrid Stock Up 2.5%

CURV stock opened at $2.22 on Wednesday. The firm has a market capitalization of $219.99 million, a PE ratio of -36.91 and a beta of 1.05. Torrid has a twelve month low of $0.94 and a twelve month high of $6.69. The stock has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.32.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.70%.The firm had revenue of $236.17 million for the quarter, compared to analysts’ expectations of $231.11 million. On average, equities research analysts anticipate that Torrid will post 0.14 EPS for the current fiscal year.

Insider Transactions at Torrid

In related news, CFO Paula Dempsey sold 42,785 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $2.06, for a total value of $88,137.10. Following the sale, the chief financial officer directly owned 227,923 shares of the company’s stock, valued at $469,521.38. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ashlee Wheeler sold 30,013 shares of Torrid stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $1.98, for a total transaction of $59,425.74. Following the sale, the insider owned 205,856 shares of the company’s stock, valued at approximately $407,594.88. The trade was a 12.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.85% of the company’s stock.

Hedge Funds Weigh In On Torrid

Institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. lifted its holdings in shares of Torrid by 94.8% during the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after acquiring an additional 3,034,083 shares during the last quarter. SG Americas Securities LLC bought a new position in Torrid in the first quarter valued at $3,387,000. Bank of America Corp DE raised its position in Torrid by 191.1% during the second quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock valued at $5,657,000 after purchasing an additional 1,258,934 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Torrid during the third quarter valued at about $1,453,000. Finally, Millennium Management LLC bought a new stake in Torrid during the third quarter worth about $669,000. Institutional investors own 81.82% of the company’s stock.

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.