Torrid (NYSE:CURV) Upgraded to Outperform at William Blair

Torrid (NYSE:CURV) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat reports.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group restated a “market perform” rating and set a $8.00 price target on shares of Torrid in a research report on Wednesday, September 4th. Morgan Stanley downgraded Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.45.

Torrid Price Performance

Torrid stock opened at $4.29 on Tuesday. The business has a fifty day moving average price of $7.09 and a 200-day moving average price of $6.12. The firm has a market capitalization of $447.14 million, a P/E ratio of 39.00 and a beta of 2.01. Torrid has a one year low of $1.25 and a one year high of $9.14.

Torrid (NYSE:CURV) last posted its earnings results on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. Sell-side analysts expect that Torrid will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Torrid news, insider Elizabeth Munoz sold 188,189 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $715,118.20. Following the completion of the transaction, the insider now owns 1,976,911 shares of the company’s stock, valued at approximately $7,512,261.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Torrid news, insider Elizabeth Munoz sold 188,189 shares of the company’s 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 transaction, the insider now directly owns 1,976,911 shares in the company, valued at approximately $7,512,261.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $1,892,730.60. Following the completion of the transaction, the chief executive officer now directly owns 5,596,314 shares of the company’s stock, valued at approximately $21,265,993.20. The disclosure for this sale can be found here. Insiders have sold 7,969,218 shares of company stock valued at $30,283,028 over the last ninety days. 9.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently made changes to their positions in CURV. Ritholtz Wealth Management increased its holdings in Torrid by 161.0% in the 2nd quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after buying an additional 23,553 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Torrid by 145.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after acquiring an additional 50,466 shares during the last quarter. Fund 1 Investments LLC grew its stake in shares of Torrid by 493.6% in the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after acquiring an additional 166,841 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in shares of Torrid during the fourth quarter valued at approximately $93,000. Institutional investors own 81.82% of the company’s stock.

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.