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

Torrid (NYSE:CURV) had its price target cut by investment analysts at The Goldman Sachs Group from $7.00 to $4.50 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 14.50% from the stock’s previous close.

CURV has been the subject of a number of other reports. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Thursday, July 18th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $8.00 target price on shares of Torrid in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.13.

Torrid Stock Performance

Torrid stock traded up $0.03 during mid-day trading on Monday, reaching $3.93. 226,811 shares of the company were exchanged, compared to its average volume of 241,538. The firm’s 50-day simple moving average is $5.16 and its two-hundred day simple moving average is $6.03. Torrid has a twelve month low of $2.02 and a twelve month high of $9.14. The firm has a market cap of $410.10 million, a PE ratio of 35.73 and a beta of 1.95.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $284.60 million during the quarter, compared to the consensus estimate of $282.87 million. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. As a group, equities research analysts anticipate that Torrid will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the transaction, the insider now owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the transaction, the insider now directly owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Munoz sold 188,189 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $715,118.20. Following the transaction, the insider now owns 1,976,911 shares in the company, valued at $7,512,261.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,164,601 shares of company stock valued at $34,825,484 in the last ninety days. Insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

An institutional investor recently raised its position in Torrid stock. O Shaughnessy Asset Management LLC grew its stake in shares of Torrid Holdings Inc. (NYSE:CURV) by 145.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,162 shares of the company’s stock after buying an additional 50,466 shares during the period. O Shaughnessy Asset Management LLC owned 0.08% of Torrid worth $416,000 as of its most recent SEC filing. 81.82% of the stock is owned by institutional investors and hedge funds.

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.