Torrid (NYSE:CURV) Stock Rating Lowered by The Goldman Sachs Group

Torrid (NYSE:CURV - Get Free Report) was downgraded by equities researchers at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a note issued to investors on Tuesday,Finviz reports. They presently have a $4.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential downside of 25.09% from the company's previous close.

A number of other research firms have also recently weighed in on CURV. Morgan Stanley raised their price objective on shares of Torrid from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Tuesday, January 21st. Telsey Advisory Group upped their target price on Torrid from $5.00 to $6.00 and gave the company a "market perform" rating in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Torrid presently has an average rating of "Hold" and an average price target of $4.75.

Torrid Price Performance

NYSE:CURV opened at $5.34 on Tuesday. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The firm has a market cap of $560.32 million, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.96. The company has a 50 day moving average price of $5.59 and a 200-day moving average price of $5.06.

Torrid (NYSE:CURV - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $275.60 million during 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%. The firm's revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts anticipate that Torrid will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in 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. grew its position 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 purchasing an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Torrid by 55.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company's stock valued at $59,000 after buying an additional 4,013 shares during the period. Two Sigma Advisers LP purchased a new stake in Torrid in the 4th quarter worth approximately $80,000. Finally, Rhumbline Advisers boosted its stake in shares of Torrid by 10.9% during the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company's stock valued at $90,000 after buying an additional 1,685 shares during the period. 81.82% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.