The Goldman Sachs Group Downgrades Torrid (NYSE:CURV) to Sell

Torrid (NYSE:CURV) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $4.00 price target on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 31.09% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Telsey Advisory Group boosted their price objective on shares of Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Morgan Stanley boosted their price target on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.75.

Torrid Stock Up 6.3 %

Shares of NYSE CURV opened at $5.81 on Tuesday. The company has a market cap of $609.11 million, a price-to-earnings ratio of 38.70, a PEG ratio of 1.03 and a beta of 1.96. The firm’s fifty day moving average is $5.56 and its 200 day moving average is $5.07. Torrid has a 52 week low of $2.18 and a 52 week high of $9.14.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $275.60 million for the quarter, compared to the consensus estimate of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. Torrid’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) EPS. Equities research analysts anticipate that Torrid will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Torrid

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in shares of Torrid by 150.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock worth $49,000 after purchasing an additional 5,678 shares in the last quarter. Corebridge Financial Inc. raised its stake in Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after buying an additional 3,509 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Torrid by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after acquiring an additional 4,013 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Torrid in the fourth quarter worth $80,000. Finally, Rhumbline Advisers grew its stake in shares of Torrid by 10.9% in the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock worth $90,000 after acquiring an additional 1,685 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

Torrid Company Profile

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.