Torrid (NYSE:CURV) Lowered to “Strong Sell” Rating by Zacks Research

Torrid (NYSE:CURV) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on CURV. Wall Street Zen lowered Torrid from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. William Blair downgraded shares of Torrid from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Torrid from $1.50 to $0.75 and set a “sell” rating on the stock in a report on Friday, December 5th. 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 target on shares of Torrid from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $1.44.

Torrid Stock Down 2.7%

NYSE:CURV opened at $1.08 on Thursday. The firm has a market cap of $107.14 million, a PE ratio of -108.00 and a beta of 1.47. Torrid has a 12 month low of $0.94 and a 12 month high of $7.19. The company’s 50-day moving average price is $1.26 and its two-hundred day moving average price is $2.23.

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

Insider Buying and Selling at Torrid

In related news, CFO Paula Dempsey sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $1.76, for a total transaction of $45,760.00. Following the completion of the sale, the chief financial officer directly owned 145,361 shares of the company’s stock, valued at $255,835.36. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.31, for a total transaction of $32,750.00. Following the completion of the transaction, the insider directly owned 9,904,856 shares in the company, valued at approximately $12,975,361.36. The trade was a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 67,959 shares of company stock worth $108,697. Company insiders own 5.85% of the company’s stock.

Institutional Trading of Torrid

Institutional investors and hedge funds have recently made changes to their positions in the business. Fund 1 Investments LLC boosted its position in shares of Torrid by 12.4% in the 2nd quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock worth $30,778,000 after purchasing an additional 1,150,726 shares during the last quarter. Nomura Holdings Inc. lifted its stake 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 buying an additional 3,034,083 shares during the period. Bank of America Corp DE boosted its holdings in Torrid by 191.1% during the second quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after buying an additional 1,258,934 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Torrid by 13.3% during the 3rd 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 period. Finally, Citadel Advisors LLC grew its position in shares of Torrid by 10.0% during the 3rd quarter. Citadel Advisors LLC now owns 874,608 shares of the company’s stock worth $1,531,000 after buying an additional 79,357 shares during the period. Institutional investors 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.