Torrid (NYSE:CURV) Price Target Raised to $4.00

Torrid (NYSE:CURV) had its price objective hoisted by Morgan Stanley from $3.00 to $4.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other brokerages have also commented on CURV. The Goldman Sachs Group cut their price target on shares of Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. Bank of America started coverage on shares of Torrid in a research report on Friday, December 6th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Telsey Advisory Group lowered their price target on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Torrid Stock Performance

Shares of CURV opened at $6.56 on Tuesday. The company has a market capitalization of $686.81 million, a P/E ratio of 43.71, a P/E/G ratio of 1.81 and a beta of 1.91. The business’s 50-day moving average is $4.89 and its two-hundred day moving average is $5.37. Torrid has a fifty-two week low of $2.18 and a fifty-two week high of $9.14.

Torrid (NYSE:CURV) last posted its earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Analysts forecast that Torrid will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Centiva Capital LP acquired a new stake in Torrid during the 3rd quarter valued at $3,930,000. Geode Capital Management LLC increased its position in shares of Torrid by 11.4% during the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after purchasing an additional 26,703 shares during the period. GSA Capital Partners LLP increased its stake in Torrid by 87.3% in the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock valued at $425,000 after acquiring an additional 50,439 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Torrid by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after buying an additional 6,968 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Torrid during the 3rd quarter worth about $166,000. 81.82% of the stock is owned by institutional investors and hedge funds.

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.