Telsey Advisory Group Lowers Torrid (NYSE:CURV) Price Target to $2.00

Torrid (NYSE:CURV) had its price target decreased by research analysts at Telsey Advisory Group from $3.00 to $2.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 73.16% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Research raised shares of Torrid from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. William Blair downgraded Torrid from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research report on Wednesday, October 8th. Morgan Stanley cut their price objective on Torrid from $2.00 to $1.60 and set an “underweight” rating for the company in a research note on Thursday, September 18th. Finally, BTIG Research restated a “neutral” rating on shares of Torrid in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Torrid has an average rating of “Reduce” and an average target price of $1.44.

Torrid Stock Up 2.2%

NYSE CURV opened at $1.16 on Thursday. The company has a 50-day moving average price of $1.37 and a 200-day moving average price of $2.52. Torrid has a 52 week low of $1.08 and a 52 week high of $7.19. The firm has a market capitalization of $114.54 million, a P/E ratio of -115.50, a PEG ratio of 4.04 and a beta of 1.47.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.The business had revenue of $235.15 million during the quarter, compared to analysts’ expectations of $239.90 million. During the same period in the previous year, the business posted ($0.01) EPS. As a group, equities research analysts anticipate that Torrid will post 0.14 EPS for the current year.

Insider Buying and Selling at Torrid

In related news, CFO Paula Dempsey sold 26,000 shares of Torrid stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $1.76, for a total value of $45,760.00. Following the completion of the transaction, the chief financial officer owned 145,361 shares in the company, valued at approximately $255,835.36. This trade represents a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Torrid stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total transaction of $32,750.00. Following the transaction, the insider directly owned 9,904,856 shares of the company’s stock, valued at $12,975,361.36. The trade was a 0.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 67,959 shares of company stock worth $108,697 over the last 90 days. 5.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Torrid

A number of hedge funds and other institutional investors have recently modified their holdings of CURV. Nomura Holdings Inc. lifted its holdings in Torrid by 94.8% during the third quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after buying an additional 3,034,083 shares during the period. Bank of America Corp DE raised its position in shares of Torrid by 191.1% in the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after acquiring an additional 1,258,934 shares in the last quarter. Fund 1 Investments LLC raised its position in shares of Torrid by 12.4% in the 2nd quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock worth $30,778,000 after acquiring an additional 1,150,726 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Torrid during the 3rd quarter worth $1,453,000. Finally, Millennium Management LLC bought a new stake in Torrid during the third quarter valued at about $669,000. 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.