Torrid (NYSE:CURV) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Torrid (NYSE:CURV) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on CURV. Telsey Advisory Group reduced their target price on Torrid from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Thursday, December 4th. Wall Street Zen lowered Torrid from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research note on Wednesday, January 21st. Bank of America reduced their price target on Torrid from $6.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, December 4th. Finally, The Goldman Sachs Group decreased their price objective on Torrid from $1.50 to $0.75 and set a “sell” rating on the stock in a report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.44.

Torrid Price Performance

Torrid stock traded down $0.04 during mid-day trading on Monday, reaching $1.11. 18,799 shares of the company were exchanged, compared to its average volume of 440,446. The company has a fifty day simple moving average of $1.15 and a 200-day simple moving average of $1.58. Torrid has a 12 month low of $0.94 and a 12 month high of $6.95. The firm has a market cap of $110.11 million, a PE ratio of -111.00 and a beta of 1.50.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $235.15 million during the quarter, compared to analyst estimates of $239.90 million. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.During the same quarter last year, the firm posted ($0.01) EPS. Sell-side analysts anticipate that Torrid will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $1.31, for a total value of $32,750.00. Following the completion of the transaction, the insider owned 9,904,856 shares of the company’s stock, valued at approximately $12,975,361.36. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Torrid by 27.1% in the 1st quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after purchasing an additional 4,673 shares in the last quarter. State of Wyoming lifted its stake in shares of Torrid by 17.3% in the 2nd quarter. State of Wyoming now owns 44,628 shares of the company’s stock valued at $132,000 after acquiring an additional 6,580 shares during the last quarter. Creative Planning grew its holdings in Torrid by 45.4% in the 2nd quarter. Creative Planning now owns 37,291 shares of the company’s stock worth $110,000 after acquiring an additional 11,641 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Torrid by 985.7% during the third quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock valued at $42,000 after acquiring an additional 22,030 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in Torrid by 161.4% in the third quarter. Royce & Associates LP now owns 41,868 shares of the company’s stock valued at $73,000 after acquiring an additional 25,854 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Torrid Company Profile

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.