Torrid’s (CURV) “Market Perform” Rating Reiterated at Telsey Advisory Group

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

A number of other research firms have also recently issued reports on CURV. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group lowered their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. 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. According to data from MarketBeat.com, Torrid presently has a consensus rating of “Hold” and a consensus target price of $6.13.

Torrid Trading Up 1.6 %

NYSE CURV opened at $4.04 on Monday. The firm has a market cap of $422.38 million, a PE ratio of 31.31 and a beta of 1.96. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The stock has a 50-day moving average of $3.83 and a 200-day moving average of $5.84.

Torrid (NYSE:CURV) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating 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 analyst estimates of $282.87 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Torrid will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the transaction, the insider now owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. This represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owns 5,596,314 shares in the company, valued at approximately $21,265,993.20. This trade represents a 8.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,164,601 shares of company stock valued at $34,825,484. Corporate insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its position 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 purchasing an additional 13,584 shares in the last quarter. Maven Securities LTD purchased a new position in Torrid during the third quarter valued at $98,000. Quadrature Capital Ltd bought a new stake in Torrid in the third quarter worth $104,000. XTX Topco Ltd purchased a new stake in shares of Torrid in the third quarter worth $145,000. Finally, Verition Fund Management LLC bought a new position in shares of Torrid during the third quarter valued at $166,000. Hedge funds and other 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.