Telsey Advisory Group Cuts Torrid (NYSE:CURV) Price Target to $5.00

Torrid (NYSE:CURV) had its price objective decreased by stock analysts at Telsey Advisory Group from $8.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 8.23% from the company’s previous close.

Several other research analysts have also recently weighed in on CURV. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group lowered their price objective on 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 given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Torrid has an average rating of “Hold” and an average target price of $5.38.

Torrid Stock Performance

Shares of CURV opened at $4.62 on Wednesday. The business’s 50 day moving average price is $3.83 and its two-hundred day moving average price is $5.80. The firm has a market cap of $483.62 million, a PE ratio of 35.54 and a beta of 2.01. Torrid has a 52-week low of $2.18 and a 52-week high of $9.14.

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

Insider Activity

In other news, CEO Lisa M. Harper sold 498,087 shares of the business’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 $1,892,730.60. Following the completion of the transaction, the chief executive officer now owns 5,596,314 shares in the company, valued at $21,265,993.20. The trade was a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $4,151,279.60. Following the completion of the transaction, the insider now owns 73,976,602 shares in the company, valued at approximately $281,111,087.60. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,164,601 shares of company stock worth $34,825,484 in the last quarter. 9.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Torrid

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its holdings in Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after buying an additional 13,584 shares during the period. Maven Securities LTD bought a new position in Torrid in the 3rd quarter worth approximately $98,000. Quadrature Capital Ltd bought a new stake in shares of Torrid during the third quarter valued at approximately $104,000. XTX Topco Ltd bought a new position in shares of Torrid during the third quarter worth $145,000. Finally, Verition Fund Management LLC purchased a new position in Torrid during the third quarter valued at $166,000. 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.