Torrid (NYSE:CURV) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of Torrid (NYSE:CURV) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat.com reports.

Several other research firms have also commented on CURV. Telsey Advisory Group reiterated a market perform rating and issued a $8.00 price objective on shares of Torrid in a research note on Wednesday, September 4th. Morgan Stanley lowered shares of Torrid from an equal weight rating to an underweight rating and set a $5.00 price objective for the company. in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $5.45.

Torrid Price Performance

CURV stock opened at $4.38 on Tuesday. Torrid has a 1 year low of $1.25 and a 1 year high of $9.14. The stock has a market capitalization of $456.53 million, a PE ratio of 39.77 and a beta of 2.01. The company’s 50-day moving average is $7.09 and its 200-day moving average is $6.12.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 EPS. On average, analysts anticipate that Torrid will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Torrid

In other Torrid news, CEO Lisa M. Harper sold 498,087 shares of the firm’s stock in a transaction on 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 directly owns 5,596,314 shares of the company’s stock, valued at approximately $21,265,993.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Elizabeth Munoz sold 188,189 shares of Torrid stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $715,118.20. Following the completion of the sale, the insider now directly owns 1,976,911 shares of the company’s stock, valued at approximately $7,512,261.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction 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 approximately $21,265,993.20. The disclosure for this sale can be found here. Insiders sold a total of 7,969,218 shares of company stock valued at $30,283,028 in the last three months. Company insiders own 9.77% of the company’s stock.

Hedge Funds Weigh In On Torrid

A number of large investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC purchased a new position in shares of Torrid in the fourth quarter valued at about $93,000. Ritholtz Wealth Management increased its position in shares of Torrid by 161.0% during the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock valued at $286,000 after buying an additional 23,553 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Torrid by 145.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after acquiring an additional 50,466 shares in the last quarter. Finally, Fund 1 Investments LLC boosted its stake in Torrid by 493.6% during the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after acquiring an additional 166,841 shares in the last 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.