Torrid (NYSE:CURV) Price Target Lowered to $4.50 at The Goldman Sachs Group

Torrid (NYSE:CURV) had its target price reduced by analysts at The Goldman Sachs Group from $7.00 to $4.50 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.49% from the stock’s current price.

A number of other equities research analysts have also recently commented on CURV. William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $8.00 target price on shares of Torrid in a research report on Wednesday, September 4th. Finally, Morgan Stanley lowered shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.13.

Torrid Price Performance

Shares of CURV stock opened at $3.83 on Monday. The company has a market cap of $399.66 million, a P/E ratio of 34.82 and a beta of 1.95. The stock’s 50-day moving average is $5.09 and its 200 day moving average is $6.02. Torrid has a 1-year low of $2.02 and a 1-year high of $9.14.

Torrid (NYSE:CURV) last posted its earnings results on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. Torrid’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts anticipate that Torrid will post 0.19 EPS for the current year.

Insider Buying and Selling

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $4,151,279.60. Following the completion of the transaction, the insider now directly owns 73,976,602 shares of the company’s stock, valued at approximately $281,111,087.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Elizabeth Munoz sold 188,189 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $715,118.20. Following the sale, the insider now directly owns 1,976,911 shares of the company’s stock, valued at $7,512,261.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $3.80, for a total value of $4,151,279.60. Following the completion of the sale, the insider now directly owns 73,976,602 shares in the company, valued at approximately $281,111,087.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,164,601 shares of company stock valued at $34,825,484 over the last ninety days. Company insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management lifted its stake in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,180 shares of the company’s stock after purchasing an additional 23,553 shares during the period. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 81.82% of the company’s stock.

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.