Torrid’s (CURV) Market Perform Rating Reaffirmed at Telsey Advisory Group

Torrid (NYSE:CURV)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a research note issued on Monday,Benzinga reports. They presently have a $8.00 target price on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 102.02% from the stock’s previous close.

CURV has been the topic of a number of other research reports. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group dropped their target price on shares of Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.13.

Torrid Stock Performance

Shares of Torrid stock opened at $3.96 on Monday. The firm has a 50-day simple moving average of $3.84 and a two-hundred day simple moving average of $5.86. Torrid has a fifty-two week low of $2.18 and a fifty-two week high of $9.14. The company has a market cap of $414.53 million, a P/E ratio of 30.46 and a beta of 1.96.

Torrid (NYSE:CURV) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The company had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same quarter in the prior year, the firm posted $0.06 EPS. Torrid’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Torrid will post 0.2 EPS for the current year.

Insider Activity

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 75,069,044 shares in the company, valued at $285,262,367.20. This represents a 8.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa M. Harper sold 74,713 shares of Torrid stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $283,909.40. Following the transaction, the chief executive officer now owns 5,521,601 shares in the company, valued at approximately $20,982,083.80. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,164,601 shares of company stock worth $34,825,484 over the last three months. Insiders own 9.77% of the company’s stock.

Institutional Trading of Torrid

Several hedge funds have recently made changes to their positions in the company. 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. Barclays PLC grew its holdings in shares of Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after purchasing an additional 13,584 shares during the period. Ritholtz Wealth Management increased its position 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. Maven Securities LTD purchased a new stake in Torrid in the 3rd quarter valued at about $98,000. Finally, Quadrature Capital Ltd purchased a new stake in Torrid in the 3rd quarter valued at about $104,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

About Torrid

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.