Torrid (NYSE:CURV) Price Target Cut to $4.50

by · The Cerbat Gem

Torrid (NYSE:CURV – Free Report) had its target price decreased by The Goldman Sachs Group from $7.00 to $4.50 in a research note issued to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on the company. William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $8.00 target price on shares of Torrid in a report on Wednesday, September 4th. Finally, Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Thursday, July 18th. One 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 company. According to data from MarketBeat, Torrid currently has a consensus rating of “Hold” and a consensus target price of $6.13.

Read Our Latest Stock Analysis on CURV

Torrid Price Performance

Torrid stock opened at $3.68 on Monday. Torrid has a 12-month low of $2.02 and a 12-month high of $9.14. The stock has a market capitalization of $384.01 million, a PE ratio of 33.45 and a beta of 1.95. The firm has a 50 day simple moving average of $4.94 and a 200-day simple moving average of $6.00.

Torrid (NYSE:CURV – Get Free Report) last released 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 firm had revenue of $284.60 million for the quarter, compared to analyst estimates of $282.87 million. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. Torrid’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, analysts forecast that Torrid will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Torrid

In related 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 transaction of $27,675,179.60. Following the transaction, the insider now directly owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Lisa M. Harper sold 498,087 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the transaction, the chief executive officer now directly owns 5,596,314 shares in the company, valued at $21,265,993.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $27,675,179.60. Following the completion of the transaction, the insider now directly owns 75,069,044 shares in the company, valued at $285,262,367.20. This trade represents a 0.00 % 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 valued at $34,825,484 over the last quarter. Company insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management lifted its holdings in shares of Torrid Holdings Inc. (NYSE:CURV – Free Report) by 161.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,180 shares of the company’s stock after purchasing an additional 23,553 shares during the quarter. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 as of its most recent SEC filing. 81.82% of the stock is owned by institutional investors.

Torrid Company Profile

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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.

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