Torrid (NYSE:CURV) Downgraded by Zacks Research to Strong Sell

by · The Cerbat Gem

Zacks Research downgraded shares of Torrid (NYSE:CURV – Free Report) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

CURV has been the topic of several other reports. Wall Street Zen cut Torrid from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. The Goldman Sachs Group lowered their target price on Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a research note on Friday, December 5th. William Blair lowered Torrid from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 23rd. BTIG Research reaffirmed a “neutral” rating on shares of Torrid in a research note on Friday, September 5th. Finally, Telsey Advisory Group decreased their price objective on Torrid from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $1.44.

Read Our Latest Stock Analysis on CURV

Torrid Trading Down 2.7%

Shares of Torrid stock opened at $1.08 on Thursday. Torrid has a 12-month low of $0.94 and a 12-month high of $7.19. The company has a market cap of $107.14 million, a P/E ratio of -108.00 and a beta of 1.47. The company’s fifty day simple moving average is $1.26 and its two-hundred day simple moving average is $2.23.

Torrid (NYSE:CURV – Get Free Report) last announced 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 negative net margin of 0.18% and a negative return on equity of 1.69%. The company had revenue of $235.15 million for the quarter, compared to the consensus estimate of $239.90 million. During the same period in the previous year, the firm posted ($0.01) EPS. Analysts predict that Torrid will post 0.14 EPS for the current fiscal year.

Insider Activity at Torrid

In related news, CFO Paula Dempsey sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $1.76, for a total transaction of $45,760.00. Following the completion of the transaction, the chief financial officer owned 145,361 shares of the company’s stock, valued at $255,835.36. This trade represents a 15.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total value of $32,750.00. Following the completion of the sale, the insider directly owned 9,904,856 shares in the company, valued at $12,975,361.36. This trade represents a 0.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 67,959 shares of company stock valued at $108,697 in the last 90 days. Corporate insiders own 5.85% of the company’s stock.

Institutional Trading of Torrid

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Torrid by 985.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock valued at $42,000 after purchasing an additional 22,030 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Torrid by 30.4% during the third quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $62,000 after buying an additional 8,250 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Torrid during the first quarter valued at approximately $68,000. Royce & Associates LP raised its holdings in Torrid by 161.4% in the 3rd quarter. Royce & Associates LP now owns 41,868 shares of the company’s stock worth $73,000 after acquiring an additional 25,854 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Torrid in the 3rd quarter valued at approximately $87,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

About Torrid

(Get Free Report)

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.

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