Torrid (NYSE:CURV) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America initiated coverage on shares of Torrid (NYSE:CURV) in a research report issued on Friday. The brokerage set a “buy” rating and a $5.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 20.19% from the company’s previous close.

CURV has been the topic of a number of other reports. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Telsey Advisory Group cut their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price target on Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.20.

Torrid Stock Up 14.3 %

Shares of NYSE:CURV opened at $4.16 on Friday. The business has a fifty day simple moving average of $3.82 and a 200 day simple moving average of $5.74. Torrid has a 12-month low of $2.18 and a 12-month high of $9.14. The firm has a market cap of $435.47 million, a P/E ratio of 27.73 and a beta of 2.01.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $284.60 million for the quarter, compared to analyst estimates of $282.87 million. Torrid had a negative return on equity of 7.58% and a net margin of 1.35%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, equities research analysts expect that Torrid will post 0.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Elizabeth Munoz sold 188,189 shares of Torrid stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $715,118.20. Following the completion of the sale, the insider now owns 1,976,911 shares of the company’s stock, valued at approximately $7,512,261.80. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the transaction, the insider now owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CURV. Barclays PLC raised its holdings in shares of Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after acquiring an additional 13,584 shares during the last quarter. Maven Securities LTD purchased a new stake in shares of Torrid in the third quarter worth approximately $98,000. Quadrature Capital Ltd bought a new position in shares of Torrid in the third quarter valued at approximately $104,000. XTX Topco Ltd purchased a new position in shares of Torrid during the third quarter valued at approximately $145,000. Finally, Verition Fund Management LLC bought a new stake in Torrid during the third quarter worth $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.