The Goldman Sachs Group Lowers Torrid (NYSE:CURV) Price Target to $4.50

Torrid (NYSE:CURV) had its price target dropped by The Goldman Sachs Group from $7.00 to $4.50 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 14.50% from the company’s current price.

Several other research firms have also commented on CURV. Telsey Advisory Group reissued a “market perform” rating and set a $8.00 price target on shares of Torrid in a research report on Wednesday, September 4th. Morgan Stanley downgraded shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Thursday, July 18th. Finally, William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Torrid currently has an average rating of “Hold” and a consensus target price of $6.13.

Torrid Trading Up 0.8 %

CURV traded up $0.03 during trading on Monday, hitting $3.93. 226,811 shares of the company’s stock were exchanged, compared to its average volume of 241,538. Torrid has a 1 year low of $2.02 and a 1 year high of $9.14. The stock has a 50 day moving average price of $5.16 and a 200 day moving average price of $6.03. The firm has a market cap of $410.10 million, a P/E ratio of 35.73 and a beta of 1.95.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Analysts forecast that Torrid will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Torrid

In related news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $27,675,179.60. Following the sale, the insider now directly owns 75,069,044 shares of the company’s stock, valued at $285,262,367.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $1,892,730.60. Following the completion of the transaction, the chief executive officer now owns 5,596,314 shares in the company, valued at approximately $21,265,993.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $27,675,179.60. Following the sale, the insider now directly owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,164,601 shares of company stock valued at $34,825,484. 9.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Torrid

An institutional investor recently raised its position in Torrid stock. O Shaughnessy Asset Management LLC increased its holdings in Torrid Holdings Inc. (NYSE:CURV) by 145.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 85,162 shares of the company’s stock after buying an additional 50,466 shares during the period. O Shaughnessy Asset Management LLC owned about 0.08% of Torrid worth $416,000 as of its most recent filing with the SEC. Institutional investors own 81.82% of the company’s stock.

About Torrid

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.