Zacks Research Upgrades Torrid (NYSE:CURV) to Hold

Torrid (NYSE:CURV) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on CURV. Wall Street Zen lowered Torrid from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a research note on Wednesday, January 21st. William Blair downgraded Torrid from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 23rd. Bank of America decreased their price target on shares of Torrid from $6.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $1.01 price objective on shares of Torrid in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $1.44.

Torrid Stock Performance

CURV stock traded down $0.04 during mid-day trading on Monday, hitting $1.12. 24,341 shares of the company were exchanged, compared to its average volume of 441,360. Torrid has a 1-year low of $0.94 and a 1-year high of $6.95. The firm’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.58. The firm has a market cap of $110.61 million, a P/E ratio of -111.50 and a beta of 1.50.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $235.15 million for the quarter, compared to the consensus estimate of $239.90 million. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.During the same period in the prior year, the company earned ($0.01) EPS. On average, equities research analysts predict that Torrid will post 0.14 EPS for the current fiscal year.

Insider Transactions at Torrid

In related news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Torrid stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total transaction of $32,750.00. Following the completion of the transaction, the insider owned 9,904,856 shares in the company, valued at approximately $12,975,361.36. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CURV. Fund 1 Investments LLC raised its position in shares of Torrid by 12.4% in the second quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock valued at $30,778,000 after buying an additional 1,150,726 shares in the last quarter. Nomura Holdings Inc. grew its position in Torrid by 94.8% in the third quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock valued at $10,908,000 after acquiring an additional 3,034,083 shares during the last quarter. Bank of America Corp DE increased its position in Torrid by 191.1% during 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Torrid by 13.3% during the third quarter. Vanguard Group Inc. now owns 1,310,698 shares of the company’s stock worth $2,294,000 after buying an additional 153,973 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in Torrid by 10.0% in the 3rd quarter. Citadel Advisors LLC now owns 874,608 shares of the company’s stock worth $1,531,000 after purchasing an additional 79,357 shares in the last quarter. Institutional investors own 81.82% of the company’s stock.

Torrid Company Profile

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.