Torrid (NYSE:CURV) PT Lowered to $12.00

Posted by on Jun 8th, 2022

Torrid (NYSE:CURV – Get Rating) had its price objective reduced by stock analysts at Telsey Advisory Group from $18.00 to $12.00 in a report issued on Wednesday, Briefing.com reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 106.54% from the stock’s previous close.

A number of other brokerages have also weighed in on CURV. Zacks Investment Research upgraded shares of Torrid from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Monday, May 23rd. Morgan Stanley decreased their price objective on shares of Torrid from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, March 21st. Finally, The Goldman Sachs Group reduced their price target on shares of Torrid from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.30.

Torrid stock opened at $5.81 on Wednesday. The firm has a 50-day moving average price of $5.87 and a 200-day moving average price of $8.60. Torrid has a 12-month low of $4.86 and a 12-month high of $33.19.

Torrid (NYSE:CURV – Get Rating) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $328.40 million for the quarter, compared to the consensus estimate of $303.97 million. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts forecast that Torrid will post 0.99 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Sycamore Partners Management L.P. purchased a new position in shares of Torrid in the 4th quarter worth approximately $813,638,000. Franklin Resources Inc. purchased a new stake in Torrid during the 3rd quarter worth approximately $28,145,000. BlackRock Inc. grew its position in Torrid by 15.8% during the 1st quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock worth $5,369,000 after purchasing an additional 120,915 shares during the last quarter. FIL Ltd purchased a new stake in Torrid during the 3rd quarter worth approximately $13,418,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income purchased a new stake in Torrid during the 4th quarter worth approximately $8,487,000. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

About Torrid (Get Rating)

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 and Torrid Curve 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.

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Analyst Recommendations for Torrid (NYSE:CURV)

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