Telsey Advisory Group Reiterates “Market Perform” Rating for Torrid (NYSE:CURV)

Torrid (NYSE:CURV)‘s stock had its “market perform” rating reiterated by stock analysts at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They presently have a $8.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 101.51% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group decreased their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.13.

Torrid Trading Down 4.6 %

Shares of NYSE CURV opened at $3.97 on Monday. The stock has a market cap of $415.58 million, a price-to-earnings ratio of 30.54 and a beta of 1.96. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The stock’s 50-day moving average is $3.84 and its 200 day moving average is $5.85.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating 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 revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. On average, analysts forecast that Torrid will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Elizabeth Munoz sold 188,189 shares of Torrid stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $715,118.20. Following the sale, the insider now directly owns 1,976,911 shares in the company, valued at approximately $7,512,261.80. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction that occurred 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 sale, the chief executive officer now owns 5,596,314 shares in the company, valued at $21,265,993.20. This represents a 8.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,164,601 shares of company stock valued at $34,825,484 in the last ninety days. Company insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently added to or reduced their stakes in CURV. O Shaughnessy Asset Management LLC boosted its holdings in Torrid by 145.5% in 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. Ritholtz Wealth Management raised its stake in shares of Torrid by 161.0% in the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after purchasing an additional 23,553 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Torrid by 87.3% in the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after purchasing an additional 50,439 shares during the last quarter. 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 worth $346,000 after purchasing an additional 6,968 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Torrid in the third quarter worth $166,000. 81.82% of the stock is owned by institutional investors.

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.