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

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

A number of other research analysts also recently weighed in on the company. Bank of America cut their price objective on Torrid from $6.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, December 4th. Morgan Stanley reissued an “underweight” rating and set a $1.01 price objective on shares of Torrid in a report on Thursday, December 4th. Wall Street Zen cut Torrid from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group cut their price objective on Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a report on Friday, December 5th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $1.44.

Torrid Stock Performance

CURV stock opened at $1.27 on Tuesday. Torrid has a 52 week low of $0.94 and a 52 week high of $6.95. The firm has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.32. The stock has a market cap of $125.49 million, a P/E ratio of -126.50 and a beta of 1.51.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently added to or reduced their stakes in CURV. Fund 1 Investments LLC increased its stake 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 during the period. Nomura Holdings Inc. increased its position in shares of Torrid by 94.8% during the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock valued at $10,908,000 after purchasing an additional 3,034,083 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Torrid by 191.1% during the 2nd 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 during the last quarter. Vanguard Group Inc. grew its position in shares of Torrid by 13.3% in the third quarter. Vanguard Group Inc. now owns 1,310,698 shares of the company’s stock valued at $2,294,000 after purchasing an additional 153,973 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Torrid by 10.0% in the third 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 during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.