The Goldman Sachs Group Lowers Torrid (NYSE:CURV) Price Target to $4.00

Torrid (NYSE:CURV) had its target price reduced by The Goldman Sachs Group from $4.50 to $4.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Telsey Advisory Group dropped their price target on Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Torrid presently has an average rating of “Hold” and a consensus price target of $5.20.

Torrid Price Performance

Shares of CURV opened at $4.16 on Wednesday. The firm has a market capitalization of $435.47 million, a PE ratio of 26.80 and a beta of 2.01. The company’s 50-day moving average is $3.82 and its 200-day moving average is $5.75. Torrid has a fifty-two week low of $2.18 and a fifty-two week high of $9.14.

Torrid (NYSE:CURV) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Torrid had a net margin of 1.35% and a negative return on equity of 7.58%. The firm had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Analysts predict that Torrid will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Torrid

In other Torrid news, CEO Lisa M. Harper sold 498,087 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $1,892,730.60. Following the transaction, the chief executive officer now directly owns 5,596,314 shares of the company’s stock, valued at $21,265,993.20. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Munoz sold 188,189 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 approximately $7,512,261.80. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,164,601 shares of company stock worth $34,825,484. Company insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after acquiring an additional 13,584 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after purchasing an additional 26,703 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Torrid during the 3rd quarter valued at approximately $145,000. Quadrature Capital Ltd bought a new stake in shares of Torrid during the 3rd quarter valued at approximately $104,000. Finally, Maven Securities LTD bought a new position in Torrid in the 3rd quarter valued at approximately $98,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.