Torrid (NYSE:CURV) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Torrid (NYSE:CURVGet Rating) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Torrid Holdings Inc. is a direct-to-consumer brand of apparel, intimates and accessories principally in North America. It is focused on fit and offers products across a broad assortment which includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories. Torrid Holdings Inc. is based in Calif. “

Several other analysts have also commented on the stock. Telsey Advisory Group lowered their price objective on shares of Torrid from $18.00 to $12.00 and set an outperform rating on the stock in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of Torrid from $11.00 to $7.00 and set an equal weight rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Torrid from $12.00 to $9.00 and set a neutral rating on the stock in a research report on Monday, March 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $16.86.

Shares of CURV traded up $0.26 during trading hours on Thursday, reaching $5.68. 526,600 shares of the stock traded hands, compared to its average volume of 569,613. The stock has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $8.57. Torrid has a 52 week low of $4.86 and a 52 week high of $33.19. The company has a market cap of $599.77 million and a price-to-earnings ratio of -33.41.

Torrid (NYSE:CURVGet Rating) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $328.40 million for the quarter, compared to analyst estimates of $303.97 million. Torrid had a negative net margin of 1.47% and a negative return on equity of 47.85%. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts expect that Torrid will post 0.99 EPS for the current year.

Large investors have recently modified their holdings of the stock. UBS Group AG purchased a new position in Torrid during the third quarter valued at approximately $36,000. Advisor Group Holdings Inc. purchased a new position in Torrid during the fourth quarter valued at approximately $29,000. Metropolitan Life Insurance Co NY purchased a new position in Torrid during the third quarter valued at approximately $67,000. California State Teachers Retirement System purchased a new position in Torrid during the third quarter valued at approximately $106,000. Finally, American International Group Inc. purchased a new position in Torrid during the third quarter valued at approximately $108,000. 90.86% of the stock is owned by 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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