Torrid (NYSE:CURV) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Torrid (NYSE:CURV) had its price objective upped by investment analysts at Morgan Stanley from $3.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 37.65% from the company’s current price.

A number of other research analysts have also weighed in on the company. Bank of America started coverage on Torrid in a research report on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. Telsey Advisory Group cut their price target on Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group decreased their price objective on Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.00.

Torrid Stock Performance

Shares of CURV stock opened at $6.42 on Tuesday. The stock has a fifty day simple moving average of $4.84 and a two-hundred day simple moving average of $5.37. The firm has a market capitalization of $672.02 million, a PE ratio of 42.77, a PEG ratio of 1.81 and a beta of 1.91. Torrid has a 52-week low of $2.18 and a 52-week high of $9.14.

Torrid (NYSE:CURV) last released its earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. On average, sell-side analysts forecast that Torrid will post 0.14 EPS for the current fiscal year.

Institutional Trading of Torrid

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of 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 period. Geode Capital Management LLC raised its position in Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after purchasing an additional 26,703 shares during the period. Barclays PLC lifted its stake in Torrid by 354.5% in the third 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 last quarter. GSA Capital Partners LLP boosted its position in shares of Torrid by 87.3% during the third 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. Finally, Quadrature Capital Ltd purchased a new position in shares of Torrid during the third quarter valued at approximately $104,000. 81.82% of the stock is currently owned by institutional investors.

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.