Torrid (NYSE:CURV) Stock Rating Upgraded by Zacks Research

Torrid (NYSE:CURV) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research report on Wednesday, January 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 target price on shares of Torrid in a research report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $1.44.

Torrid Stock Performance

Torrid stock opened at $2.23 on Wednesday. Torrid has a one year low of $0.94 and a one year high of $6.69. The business has a fifty day moving average of $1.42 and a two-hundred day moving average of $1.31. The company has a market cap of $220.99 million, a P/E ratio of -37.16 and a beta of 1.05.

Torrid (NYSE:CURV) last released its earnings results on Thursday, March 19th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $236.17 million during the quarter, compared to the consensus estimate of $231.11 million. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.70%. Sell-side analysts predict that Torrid will post 0.14 EPS for the current year.

Insider Activity

In related news, CFO Paula Dempsey sold 42,785 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $2.06, for a total value of $88,137.10. Following the completion of the transaction, the chief financial officer owned 227,923 shares of the company’s stock, valued at approximately $469,521.38. The trade was a 15.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ashlee Wheeler sold 30,013 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $1.98, for a total transaction of $59,425.74. Following the completion of the transaction, the insider directly owned 205,856 shares of the company’s stock, valued at $407,594.88. The trade was a 12.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.85% of the company’s stock.

Hedge Funds Weigh In On Torrid

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Torrid during the first quarter worth about $3,387,000. Bridgeway Capital Management LLC lifted its position in Torrid by 47.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 155,900 shares of the company’s stock worth $153,000 after buying an additional 50,000 shares during the period. Fund 1 Investments LLC lifted its position in Torrid by 0.9% during the fourth quarter. Fund 1 Investments LLC now owns 9,904,856 shares of the company’s stock worth $9,691,000 after buying an additional 90,000 shares during the period. Abel Hall LLC purchased a new position in Torrid during the fourth quarter worth about $49,000. Finally, Jain Global LLC purchased a new position in Torrid during the fourth quarter worth about $55,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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.