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

Torrid (NYSE:CURV) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently commented on the company. Wall Street Zen upgraded Torrid from a “sell” rating to a “hold” rating in a research report on Saturday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price target on shares of Torrid in a research note on Monday, March 16th. BTIG Research reiterated a “neutral” rating on shares of Torrid in a research report on Friday, June 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Torrid in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Torrid currently has a consensus rating of “Reduce” and an average price target of $1.44.

Torrid Trading Down 3.6%

Shares of Torrid stock opened at $1.99 on Monday. The company has a 50-day moving average of $1.71 and a two-hundred day moving average of $1.39. Torrid has a 12-month low of $0.94 and a 12-month high of $5.22. The stock has a market cap of $197.55 million, a PE ratio of -16.54 and a beta of 0.93.

Torrid (NYSE:CURV) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. The firm had revenue of $245.80 million during the quarter, compared to analyst estimates of $239.88 million. On average, sell-side analysts forecast that Torrid will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Torrid

In related news, CFO Paula Dempsey sold 42,785 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $2.06, for a total transaction 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. This represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ashlee Wheeler sold 30,013 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $1.98, for a total value of $59,425.74. Following the sale, the insider owned 205,856 shares of the company’s stock, valued at approximately $407,594.88. The trade was a 12.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Torrid by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock worth $37,000 after purchasing an additional 11,962 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Torrid by 985.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock worth $42,000 after purchasing an additional 22,030 shares during the period. Abel Hall LLC acquired a new stake in Torrid during the 4th quarter worth approximately $49,000. Royal Bank of Canada increased its position in Torrid by 134.1% during the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after purchasing an additional 16,119 shares in the last quarter. Finally, Jain Global LLC purchased a new position in Torrid in the fourth quarter valued at approximately $55,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.