Torrid (NYSE:CURV) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Torrid (NYSE:CURV) had its price target upped by The Goldman Sachs Group from $4.50 to $5.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 18.10% from the stock’s previous close.

A number of other analysts have also issued reports on CURV. Telsey Advisory Group lifted their price target on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday. Bank of America began coverage on shares of Torrid in a report on Friday, December 6th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

Torrid Price Performance

Shares of CURV traded up $0.58 during mid-day trading on Friday, reaching $6.11. 230,056 shares of the company’s stock traded hands, compared to its average volume of 303,020. The stock’s 50-day moving average is $6.10 and its two-hundred day moving average is $4.97. Torrid has a 12 month low of $2.18 and a 12 month high of $9.14. The stock has a market cap of $639.54 million, a P/E ratio of 40.70, a P/E/G ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last posted its earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The company had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $263.34 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Torrid’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts predict that Torrid will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Torrid

A number of hedge funds and other institutional investors have recently modified their holdings of CURV. Charles Schwab Investment Management Inc. increased its holdings in Torrid by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after buying an additional 6,968 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Torrid in the 3rd quarter valued at about $166,000. Centiva Capital LP purchased a new position in shares of Torrid in the 3rd quarter valued at about $3,930,000. Maven Securities LTD acquired a new stake in shares of Torrid during the 3rd quarter worth about $98,000. Finally, Quadrature Capital Ltd acquired a new position in Torrid in the third quarter valued at approximately $104,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.