Torrid (NYSE:CURV) Rating Lowered to Strong Sell at Zacks Research

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

Several other research firms have also recently issued reports on CURV. Morgan Stanley reiterated an “underweight” rating and issued a $1.01 price objective on shares of Torrid in a research report on Thursday, December 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research note on Wednesday, January 21st. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Torrid in a research report on Monday. The Goldman Sachs Group dropped their target price on shares of Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a report on Friday, December 5th. Finally, Wall Street Zen downgraded shares of Torrid from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $1.44.

Torrid Price Performance

CURV opened at $1.27 on Tuesday. Torrid has a 12 month low of $0.94 and a 12 month high of $6.95. The stock has a market capitalization of $125.49 million, a P/E ratio of -126.50 and a beta of 1.51. The business has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.32.

Institutional Trading of Torrid

Several institutional investors and hedge funds have recently modified their holdings of the business. Fund 1 Investments LLC grew its position in shares of Torrid by 12.4% in the second quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock valued at $30,778,000 after purchasing an additional 1,150,726 shares during the last quarter. Nomura Holdings Inc. grew its holdings in Torrid by 94.8% during the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock valued at $10,908,000 after buying an additional 3,034,083 shares during the last quarter. Bank of America Corp DE increased its position in Torrid by 191.1% during 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Torrid by 13.3% in the third quarter. Vanguard Group Inc. now owns 1,310,698 shares of the company’s stock worth $2,294,000 after acquiring an additional 153,973 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of Torrid by 10.0% in the third quarter. Citadel Advisors LLC now owns 874,608 shares of the company’s stock worth $1,531,000 after acquiring an additional 79,357 shares during the last quarter. Hedge funds and other institutional investors 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.