Torrid (NYSE:CURV) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Torrid (NYSE:CURV) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a report on Monday, April 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 target price on shares of Torrid in a report on Monday, March 16th. Wall Street Zen upgraded shares of Torrid from a “sell” rating to a “hold” rating in a report on Saturday. Finally, BTIG Research reiterated a “neutral” rating on shares of Torrid in a report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $1.44.

Torrid Trading Down 3.6%

Shares of NYSE:CURV opened at $1.99 on Monday. The stock’s 50-day moving average price is $1.71 and its 200-day moving average price is $1.39. Torrid has a 12-month low of $0.94 and a 12-month high of $5.22. The stock has a market capitalization of $197.55 million, a P/E ratio of -16.54 and a beta of 0.93.

Torrid (NYSE:CURV) last posted its earnings results on Thursday, June 4th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. The firm had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $239.88 million. As a group, research analysts predict that Torrid will post -0.02 EPS for the current year.

Insider Activity

In other Torrid news, insider Ashlee Wheeler sold 30,013 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $1.98, for a total value of $59,425.74. Following the completion of the sale, the insider directly owned 205,856 shares in the company, valued at $407,594.88. This trade represents a 12.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paula Dempsey sold 42,785 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $2.06, for a total transaction of $88,137.10. Following the completion of the sale, the chief financial officer owned 227,923 shares of the company’s stock, valued at $469,521.38. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.77% of the company’s stock.

Institutional Trading of Torrid

Several institutional investors and hedge funds have recently bought and sold shares of CURV. Nomura Holdings Inc. lifted its holdings in Torrid by 94.8% in the third quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after buying an additional 3,034,083 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Torrid in the first quarter worth about $3,560,000. SG Americas Securities LLC purchased a new stake in Torrid in the first quarter worth about $3,387,000. Bank of America Corp DE lifted its holdings in Torrid by 191.1% in the second quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after buying an additional 1,258,934 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Torrid in the third quarter worth about $1,453,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion?forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall?based store footprint to become a multichannel business.