The Goldman Sachs Group Forecasts Strong Price Appreciation for Torrid (NYSE:CURV) Stock

Torrid (NYSE:CURV) had its target price hoisted by stock analysts at The Goldman Sachs Group from $4.00 to $4.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 25.37% from the company’s current price.

Other analysts have also issued reports about the company. Morgan Stanley increased their target price on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. Bank of America assumed coverage on Torrid in a report on Friday, December 6th. They set a “buy” rating and a $5.00 target price on the stock. Finally, Telsey Advisory Group reduced their target price on Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.63.

Torrid Price Performance

CURV stock opened at $6.03 on Tuesday. The stock has a market capitalization of $631.68 million, a price-to-earnings ratio of 40.20, a PEG ratio of 1.03 and a beta of 1.97. The business’s fifty day moving average price is $6.10 and its two-hundred day moving average price is $5.04. Torrid has a fifty-two week low of $2.18 and a fifty-two week high of $9.14.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.01) earnings per share 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%. Research analysts expect that Torrid will post 0.14 EPS for the current year.

Institutional Trading of Torrid

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in shares of Torrid by 10.9% during the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock valued at $90,000 after purchasing an additional 1,685 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after purchasing an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Torrid by 55.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock valued at $59,000 after purchasing an additional 4,013 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock valued at $49,000 after purchasing an additional 5,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after purchasing an additional 6,968 shares in the last quarter. 81.82% of the stock is owned by institutional investors and hedge funds.

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.