Torrid (NYSE:CURV) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Torrid (NYSE:CURV) in a research report report published on Monday,Benzinga reports. The firm currently has a $8.00 target price on the stock.

Other equities research analysts also recently issued reports about 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 dropped their price objective on Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Torrid currently has an average rating of “Hold” and an average price target of $6.13.

Torrid Stock Performance

CURV opened at $4.04 on Monday. The stock’s fifty day moving average is $3.83 and its 200-day moving average is $5.83. The company has a market capitalization of $422.91 million, a PE ratio of 31.08 and a beta of 1.96. Torrid has a one year low of $2.18 and a one year high of $9.14.

Torrid (NYSE:CURV) last issued its earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The business had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Torrid will post 0.2 EPS for the current fiscal year.

Insider Activity at Torrid

In other Torrid news, insider Elizabeth Munoz sold 28,228 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $3.80, for a total value of $107,266.40. Following the sale, the insider now directly owns 1,948,683 shares in the company, valued at $7,404,995.40. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lisa M. Harper sold 498,087 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 5,596,314 shares in the company, valued at approximately $21,265,993.20. The trade was a 8.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC increased its holdings in Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after buying an additional 13,584 shares during the period. Maven Securities LTD acquired a new stake in shares of Torrid during the 3rd quarter valued at about $98,000. Quadrature Capital Ltd bought a new stake in Torrid in the third quarter valued at about $104,000. XTX Topco Ltd acquired a new position in Torrid in the third quarter worth about $145,000. Finally, Verition Fund Management LLC acquired a new position in Torrid in the third quarter worth about $166,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.