Telsey Advisory Group Lowers Torrid (NYSE:CURV) Price Target to $2.00

Torrid (NYSE:CURV) had its target price cut by equities research analysts at Telsey Advisory Group from $3.00 to $2.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 50.94% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. William Blair lowered Torrid from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group dropped their price target on Torrid from $1.75 to $1.50 and set a “sell” rating for the company in a research note on Monday, October 6th. Morgan Stanley cut their price objective on shares of Torrid from $2.00 to $1.60 and set an “underweight” rating for the company in a report on Thursday, September 18th. Bank of America lowered their target price on shares of Torrid from $6.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Zacks Research raised shares of Torrid from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Torrid currently has a consensus rating of “Reduce” and a consensus target price of $1.78.

Torrid Price Performance

Shares of NYSE CURV opened at $1.33 on Thursday. The stock has a market cap of $131.39 million, a PE ratio of 33.13, a price-to-earnings-growth ratio of 4.71 and a beta of 1.47. Torrid has a 1 year low of $1.10 and a 1 year high of $7.19. The firm has a fifty day moving average price of $1.40 and a 200-day moving average price of $2.56.

Torrid (NYSE:CURV) last released its earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Torrid had a net margin of 0.30% and a negative return on equity of 1.69%. The firm had revenue of $235.15 million for the quarter, compared to analysts’ expectations of $239.90 million. During the same quarter last year, the firm posted ($0.01) EPS. On average, research analysts expect that Torrid will post 0.14 EPS for the current year.

Insider Activity at Torrid

In related news, insider Ashlee Wheeler sold 16,959 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $1.78, for a total value of $30,187.02. Following the sale, the insider owned 107,443 shares in the company, valued at approximately $191,248.54. The trade was a 13.63% 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, CFO Paula Dempsey sold 26,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $1.76, for a total transaction of $45,760.00. Following the sale, the chief financial officer directly owned 145,361 shares in the company, valued at approximately $255,835.36. The trade was a 15.17% decrease in their position. The SEC filing for this sale provides additional information. 5.85% of the stock is owned by corporate insiders.

Institutional Trading of Torrid

A number of large investors have recently made changes to their positions in the business. Nomura Holdings Inc. raised its position in shares of 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 in the last quarter. Bank of America Corp DE increased its stake 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 acquiring an additional 1,258,934 shares during the last quarter. Fund 1 Investments LLC raised its position in Torrid by 12.4% during 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 period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Torrid in the 3rd quarter valued at approximately $1,453,000. Finally, Millennium Management LLC purchased a new position in shares of Torrid in the 3rd quarter worth approximately $669,000. 81.82% of the stock is currently owned by institutional investors.

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.