Torrid (NYSE:CURV) Upgraded to Hold at Wall Street Zen

Torrid (NYSE:CURV) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the company. Zacks Research upgraded Torrid from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a report on Monday, April 20th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Torrid in a report on Monday, March 16th. Finally, BTIG Research restated a “neutral” rating on shares of Torrid in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.44.

Torrid Stock Performance

CURV opened at $2.01 on Friday. Torrid has a one year low of $0.94 and a one year high of $5.29. The company has a market cap of $199.50 million, a P/E ratio of -16.71 and a beta of 0.93. The business’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $1.38.

Torrid (NYSE:CURV) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The business had revenue of $245.80 million during the quarter, compared to analysts’ expectations of $239.88 million. As a group, analysts predict that Torrid will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Torrid news, insider Ashlee Wheeler sold 30,013 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $1.98, for a total transaction of $59,425.74. Following the completion of the sale, the insider directly owned 205,856 shares of the company’s stock, valued at approximately $407,594.88. This trade represents a 12.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paula Dempsey sold 42,785 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $2.06, for a total value of $88,137.10. Following the sale, the chief financial officer directly owned 227,923 shares of the company’s stock, valued at $469,521.38. The trade was a 15.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.85% of the stock is currently owned by company insiders.

Institutional Trading of Torrid

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Torrid by 27.1% during the 1st quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after acquiring an additional 4,673 shares during the period. State of Wyoming lifted its position in Torrid by 17.3% during the 2nd quarter. State of Wyoming now owns 44,628 shares of the company’s stock worth $132,000 after acquiring an additional 6,580 shares during the period. Creative Planning lifted its position in Torrid by 45.4% during the 2nd quarter. Creative Planning now owns 37,291 shares of the company’s stock worth $110,000 after acquiring an additional 11,641 shares during the period. Wells Fargo & Company MN lifted its position in Torrid by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock worth $37,000 after acquiring an additional 11,962 shares during the period. Finally, Bank of America Corp DE lifted its position in Torrid by 2.3% during the 1st quarter. Bank of America Corp DE now owns 631,261 shares of the company’s stock worth $1,124,000 after acquiring an additional 14,420 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Torrid Company Profile

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.