Torrid (NYSE:CURV) Price Target Cut to $4.50 by Analysts at The Goldman Sachs Group

Torrid (NYSE:CURV) had its target price trimmed by The Goldman Sachs Group from $7.00 to $4.50 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $8.00 price objective on shares of Torrid in a research note on Wednesday, September 4th. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley lowered Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.13.

Torrid Stock Up 2.3 %

Shares of NYSE:CURV opened at $3.99 on Monday. The company has a market capitalization of $416.36 million, a price-to-earnings ratio of 36.27 and a beta of 1.95. The firm has a 50 day moving average of $5.09 and a 200 day moving average of $6.02. Torrid has a 52 week low of $2.02 and a 52 week high of $9.14.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share 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 firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Torrid will post 0.19 EPS for the current year.

Insider Buying and Selling at Torrid

In other news, CEO Lisa M. Harper sold 498,087 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the sale, the chief executive officer now directly owns 5,596,314 shares of the company’s stock, valued at $21,265,993.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Torrid news, 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 sale, the chief executive officer now owns 5,596,314 shares in the company, valued at approximately $21,265,993.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Munoz sold 28,228 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $107,266.40. Following the completion of the transaction, the insider now owns 1,948,683 shares of the company’s stock, valued at approximately $7,404,995.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is owned by corporate insiders.

Institutional Trading of Torrid

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management raised its stake in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 38,180 shares of the company’s stock after buying an additional 23,553 shares during the period. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 at the end of the most recent quarter. 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.