Torrid (NYSE:CURV) Upgraded by Zacks Research to Hold Rating

Torrid (NYSE:CURV) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

CURV has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a report 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 report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $1.44.

Torrid Stock Down 0.2%

Shares of CURV opened at $2.17 on Wednesday. The firm has a market cap of $215.03 million, a PE ratio of -36.08 and a beta of 1.05. The company’s fifty day moving average is $1.42 and its two-hundred day moving average is $1.31. Torrid has a fifty-two week low of $0.94 and a fifty-two week high of $6.69.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $236.17 million for the quarter, compared to analyst estimates of $231.11 million. Torrid had a negative net margin of 0.70% and a negative return on equity of 1.69%. As a group, equities research analysts anticipate that Torrid will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Torrid

In other Torrid news, insider Ashlee Wheeler sold 30,013 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $1.98, for a total value of $59,425.74. Following the transaction, the insider owned 205,856 shares in the company, valued at $407,594.88. The trade was a 12.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paula Dempsey sold 42,785 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was 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 in the company, valued at $469,521.38. This represents a 15.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.85% of the company’s stock.

Hedge Funds Weigh In On Torrid

A number of institutional investors have recently added to or reduced their stakes in CURV. Nomura Holdings Inc. lifted its holdings in Torrid by 94.8% in the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after buying an additional 3,034,083 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Torrid in the 1st quarter worth about $3,387,000. Bank of America Corp DE increased its position in shares of Torrid by 191.1% in the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after purchasing an additional 1,258,934 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Torrid in the 3rd quarter worth about $1,453,000. Finally, Millennium Management LLC bought a new stake in shares of Torrid in the 3rd quarter worth about $669,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

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.