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

Telsey Advisory Group reissued their market perform rating on shares of Torrid (NYSE:CURV) in a report released on Monday,Benzinga reports. The firm currently has a $8.00 price objective on the stock.

Several other research firms have also issued reports on CURV. The Goldman Sachs Group dropped their target price on shares of Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.13.

Torrid Trading Up 5.1 %

Shares of CURV opened at $4.16 on Monday. The company has a market capitalization of $435.47 million, a PE ratio of 32.00 and a beta of 1.96. The stock’s 50-day moving average price is $3.84 and its two-hundred day moving average price is $5.85. Torrid has a 12 month low of $2.18 and a 12 month high of $9.14.

Torrid (NYSE:CURV) last released its earnings results 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. The business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $282.87 million. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. Equities research analysts predict that Torrid will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Torrid

In related news, CEO Lisa M. Harper sold 498,087 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 $1,892,730.60. Following the transaction, the chief executive officer now directly owns 5,596,314 shares in the company, valued at $21,265,993.20. This trade represents a 8.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 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 $27,675,179.60. Following the sale, the insider now owns 75,069,044 shares of the company’s stock, valued at $285,262,367.20. This trade represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,164,601 shares of company stock valued at $34,825,484. Corporate insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Barclays PLC raised its holdings 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 acquiring an additional 13,584 shares during the last quarter. Maven Securities LTD bought a new stake in Torrid during the 3rd quarter worth approximately $98,000. Quadrature Capital Ltd purchased a new stake in shares of Torrid in the third quarter worth approximately $104,000. XTX Topco Ltd bought a new position in shares of Torrid in the third quarter valued at approximately $145,000. Finally, Verition Fund Management LLC purchased a new position in shares of Torrid during the third quarter valued at approximately $166,000. 81.82% of the stock is 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.