Torrid (NYSE:CURV) Given New $5.00 Price Target at The Goldman Sachs Group

Torrid (NYSE:CURV) had its price objective lifted by research analysts at The Goldman Sachs Group from $4.50 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 13.15% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Bank of America started coverage on Torrid in a research report on Friday, December 6th. They issued a “buy” rating and a $5.00 price target on the stock. Telsey Advisory Group boosted their price target on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Morgan Stanley boosted their price target on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Torrid Price Performance

Shares of CURV opened at $5.76 on Friday. Torrid has a one year low of $2.18 and a one year high of $9.14. The company has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $4.95. The firm has a market capitalization of $603.09 million, a PE ratio of 38.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The business had revenue of $275.60 million during the quarter, compared to analyst estimates of $263.34 million. During the same period last year, the business posted ($0.04) earnings per share. Torrid’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts expect that Torrid will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

A number of hedge funds have recently added to or reduced their stakes in CURV. Charles Schwab Investment Management Inc. raised its holdings in Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after acquiring an additional 6,968 shares during the last quarter. Verition Fund Management LLC purchased a new position in Torrid in the 3rd quarter worth approximately $166,000. Centiva Capital LP purchased a new stake in Torrid during the 3rd quarter valued at $3,930,000. Maven Securities LTD purchased a new stake in Torrid during the 3rd quarter valued at $98,000. Finally, Quadrature Capital Ltd purchased a new stake in Torrid during the 3rd quarter valued at $104,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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.