The Goldman Sachs Group Lowers Torrid (NYSE:CURV) Price Target to $4.50

Torrid (NYSE:CURV) had its target price decreased by analysts at The Goldman Sachs Group from $7.00 to $4.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 17.49% from the company’s previous close.

Several other research firms have also recently weighed in on CURV. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Telsey Advisory Group restated a “market perform” rating and set a $8.00 price objective on shares of Torrid in a research report on Wednesday, September 4th. Finally, Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Torrid presently has an average rating of “Hold” and an average target price of $6.13.

Torrid Stock Down 4.0 %

NYSE:CURV opened at $3.83 on Monday. The stock has a market cap of $399.66 million, a PE ratio of 34.82 and a beta of 1.95. The business’s 50-day simple moving average is $5.09 and its two-hundred day simple moving average is $6.02. Torrid has a 52 week low of $2.02 and a 52 week high of $9.14.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 EPS 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 for the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the previous year, the firm earned $0.06 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Torrid will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lisa M. Harper sold 498,087 shares of the stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $21,265,993.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Lisa M. Harper sold 498,087 shares of the firm’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 sale, the chief executive officer now directly owns 5,596,314 shares in the company, valued at $21,265,993.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $3.80, for a total transaction of $4,151,279.60. Following the transaction, the insider now owns 73,976,602 shares in the company, valued at $281,111,087.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,164,601 shares of company stock valued at $34,825,484 in the last three months. Corporate 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 increased its holdings in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 38,180 shares of the company’s stock after acquiring an additional 23,553 shares during the period. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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.