The Goldman Sachs Group Has Lowered Expectations for Torrid (NYSE:CURV) Stock Price

Torrid (NYSE:CURV) had its price target dropped by equities researchers at The Goldman Sachs Group from $4.50 to $4.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 10.50% from the company’s previous close.

Several other analysts also recently commented on CURV. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. Telsey Advisory Group lowered their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Torrid presently has an average rating of “Hold” and a consensus price target of $5.25.

Torrid Price Performance

Shares of CURV stock opened at $3.62 on Wednesday. The business has a fifty day moving average of $3.83 and a 200 day moving average of $5.77. Torrid has a 1 year low of $2.18 and a 1 year high of $9.14. The firm has a market capitalization of $378.94 million, a price-to-earnings ratio of 24.13 and a beta of 2.01.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Torrid had a negative return on equity of 7.58% and a net margin of 1.35%. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same period last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Torrid will post 0.2 earnings per share for the current year.

Insider Activity at Torrid

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the sale, the insider now directly owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. This trade represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Munoz sold 188,189 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $715,118.20. Following the transaction, the insider now directly owns 1,976,911 shares of the company’s stock, valued at approximately $7,512,261.80. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently bought and sold shares of CURV. Ritholtz Wealth Management boosted its holdings in shares of Torrid by 161.0% during the 2nd quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after purchasing an additional 23,553 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Torrid by 87.3% during the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock valued at $425,000 after buying an additional 50,439 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Torrid by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after acquiring an additional 6,968 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Torrid in the 3rd quarter valued at $166,000. Finally, Centiva Capital LP acquired a new stake in shares of Torrid during the 3rd quarter worth about $3,930,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.