Torrid (NYSE:CURV) Stock Rating Lowered by Zacks Research

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

CURV has been the topic of several other research reports. Wall Street Zen upgraded shares of Torrid from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research report on Monday, April 20th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price 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 report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $1.44.

Torrid Stock Performance

CURV stock opened at $1.99 on Monday. The firm has a market cap of $197.55 million, a PE ratio of -16.54 and a beta of 0.93. The firm’s fifty day moving average is $1.71 and its 200 day moving average is $1.39. Torrid has a one year low of $0.94 and a one year high of $5.22.

Torrid (NYSE:CURV) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.02. The firm had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. Research analysts predict that Torrid will post -0.02 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Torrid

Several hedge funds and other institutional investors have recently modified their holdings of CURV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Torrid by 338.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,039 shares of the company’s stock valued at $269,000 after purchasing an additional 37,850 shares during the last quarter. Rhumbline Advisers boosted its holdings in Torrid by 27.1% in the 1st quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock valued at $120,000 after purchasing an additional 4,673 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Torrid by 15.1% in the 2nd quarter. Geode Capital Management LLC now owns 413,370 shares of the company’s stock valued at $1,220,000 after purchasing an additional 54,199 shares during the last quarter. Creative Planning boosted its holdings in Torrid by 45.4% in the 2nd quarter. Creative Planning now owns 37,291 shares of the company’s stock valued at $110,000 after purchasing an additional 11,641 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Torrid in the 2nd quarter valued at about $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.