Torrid (NYSE:CURV) Cut to Underweight at Morgan Stanley

Morgan Stanley downgraded shares of Torrid (NYSE:CURV) from an equal weight rating to an underweight rating in a research report report published on Thursday, Marketbeat.com reports. Morgan Stanley currently has $5.00 price objective on the stock.

Several other analysts have also issued reports on the company. The Goldman Sachs Group increased their price objective on Torrid from $2.95 to $5.75 and gave the stock a neutral rating in a report on Monday, April 1st. Telsey Advisory Group increased their price objective on Torrid from $6.00 to $8.00 and gave the stock a market perform rating in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $4.96.

Torrid Stock Up 7.0 %

Shares of Torrid stock opened at $7.95 on Thursday. The stock has a market cap of $829.58 million, a PE ratio of 72.28 and a beta of 2.04. The business has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $5.63. Torrid has a 12 month low of $1.21 and a 12 month high of $9.14.

Torrid (NYSE:CURV) last issued its earnings results on Wednesday, June 12th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $279.77 million during the quarter, compared to analysts’ expectations of $280.15 million. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. Torrid’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Analysts expect that Torrid will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently bought and sold shares of CURV. Fund 1 Investments LLC raised its holdings in Torrid by 493.6% during the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after buying an additional 166,841 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Torrid by 145.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after buying an additional 50,466 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Torrid during the fourth quarter valued at about $93,000. Finally, Nisa Investment Advisors LLC bought a new position in Torrid during the fourth quarter valued at about $62,000. 81.82% of the stock is currently owned by institutional investors.

Torrid Company Profile

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.