Torrid (NYSE:CURV) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Torrid (NYSE:CURV) from a strong sell rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on CURV. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Torrid in a research report on Monday, March 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $1.44.

Torrid Stock Performance

Shares of NYSE CURV opened at $2.17 on Wednesday. Torrid has a 52-week low of $0.94 and a 52-week high of $6.69. The firm has a 50 day moving average price of $1.42 and a two-hundred day moving average price of $1.31. The stock has a market cap of $215.03 million, a P/E ratio of -36.08 and a beta of 1.05.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. Torrid had a negative net margin of 0.70% and a negative return on equity of 1.69%. The company had revenue of $236.17 million during the quarter, compared to analysts’ expectations of $231.11 million. Analysts predict that Torrid will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Torrid

In other news, insider Ashlee Wheeler sold 30,013 shares of Torrid stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $1.98, for a total transaction of $59,425.74. Following the completion of the transaction, the insider directly owned 205,856 shares in the company, valued at $407,594.88. This trade represents a 12.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paula Dempsey sold 42,785 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $2.06, for a total value of $88,137.10. Following the completion of the sale, the chief financial officer directly owned 227,923 shares of the company’s stock, valued at approximately $469,521.38. This trade represents a 15.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.85% of the stock is owned by company insiders.

Institutional Trading of Torrid

Several institutional investors and hedge funds have recently modified their holdings of CURV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Torrid by 338.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,039 shares of the company’s stock worth $269,000 after purchasing an additional 37,850 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Torrid by 27.1% in the first quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after purchasing an additional 4,673 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Torrid by 15.1% in the second quarter. Geode Capital Management LLC now owns 413,370 shares of the company’s stock worth $1,220,000 after purchasing an additional 54,199 shares during the last quarter. Creative Planning raised its stake in shares of Torrid by 45.4% in the second quarter. Creative Planning now owns 37,291 shares of the company’s stock worth $110,000 after purchasing an additional 11,641 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Torrid in the second quarter worth approximately $346,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

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.