Torrid (NYSE:CURV) Downgraded to “Hold” Rating by Zacks Research

Torrid (NYSE:CURV) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on CURV. Wall Street Zen upgraded Torrid from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a report on Monday, April 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Torrid in a research report on Monday, March 16th. Finally, BTIG Research reiterated a “neutral” rating on shares of Torrid in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $1.44.

Torrid Trading Down 3.6%

Shares of NYSE CURV opened at $1.99 on Monday. Torrid has a 12-month low of $0.94 and a 12-month high of $5.22. The company has a market cap of $197.55 million, a P/E ratio of -16.54 and a beta of 0.93. The stock has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.39.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, June 4th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. The company had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. On average, sell-side analysts forecast that Torrid will post -0.02 EPS for the current fiscal year.

Insider Transactions at Torrid

In other Torrid news, insider Ashlee Wheeler sold 30,013 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $1.98, for a total transaction of $59,425.74. Following the transaction, the insider directly owned 205,856 shares in the company, valued at $407,594.88. This represents a 12.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Paula Dempsey sold 42,785 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $2.06, for a total transaction of $88,137.10. Following the transaction, the chief financial officer directly owned 227,923 shares of the company’s stock, valued at approximately $469,521.38. This represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

A number of institutional investors have recently modified their holdings of the stock. Fund 1 Investments LLC lifted its position in shares of Torrid by 0.9% during the fourth quarter. Fund 1 Investments LLC now owns 9,904,856 shares of the company’s stock worth $9,691,000 after purchasing an additional 90,000 shares during the last quarter. Nomura Holdings Inc. increased its holdings 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Torrid during the first quarter valued at approximately $3,560,000. Bank of America Corp DE raised its stake 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 valued at $5,657,000 after buying an additional 1,258,934 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Torrid during the 1st quarter worth approximately $3,387,000. Institutional investors and hedge funds 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.