Torrid (NYSE:CURV) Earns Market Perform Rating from Telsey Advisory Group

Torrid (NYSE:CURV)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a report released on Monday,Benzinga reports. They presently have a $8.00 price objective on the stock. Telsey Advisory Group’s target price suggests a potential upside of 102.02% from the stock’s previous close.

A number of other brokerages also recently issued reports on CURV. The Goldman Sachs Group cut their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. William Blair upgraded shares of Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Torrid currently has a consensus rating of “Hold” and a consensus price target of $6.13.

Torrid Stock Up 1.0 %

CURV opened at $3.96 on Monday. The stock’s fifty day moving average is $3.84 and its two-hundred day moving average is $5.86. The company has a market capitalization of $414.53 million, a P/E ratio of 30.46 and a beta of 1.96. Torrid has a 52 week low of $2.18 and a 52 week 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, beating analysts’ consensus estimates of $0.07 by $0.01. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The business had revenue of $284.60 million for the quarter, compared to the consensus estimate of $282.87 million. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that Torrid will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Torrid

In other Torrid news, insider Elizabeth Munoz sold 188,189 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 transaction 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. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the stock in a transaction dated Friday, September 13th. The shares were 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 directly owns 75,069,044 shares in the company, valued at $285,262,367.20. This represents a 8.84 % decrease in their ownership of the stock. 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 owned by insiders.

Institutional Investors Weigh In On Torrid

A number of large investors have recently bought and sold shares of the company. Centiva Capital LP acquired a new stake in Torrid during the 3rd quarter valued at approximately $3,930,000. O Shaughnessy Asset Management LLC lifted its position in Torrid by 145.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after purchasing an additional 50,466 shares during the period. GSA Capital Partners LLP grew its position in Torrid by 87.3% during the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after purchasing an additional 50,439 shares during the period. Verition Fund Management LLC purchased a new position in shares of Torrid during the 3rd quarter valued at about $166,000. Finally, XTX Topco Ltd acquired a new position in shares of Torrid in the 3rd quarter valued at about $145,000. 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.