The Goldman Sachs Group Issues Positive Forecast for Torrid (NYSE:CURV) Stock Price

Torrid (NYSE:CURV) had its price target increased by The Goldman Sachs Group from $4.50 to $5.00 in a research report report published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

CURV has been the topic of a number of other research reports. Bank of America began coverage on shares of Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 target price on the stock. Morgan Stanley upped their price objective on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Tuesday, January 21st. Finally, Telsey Advisory Group lifted their target price on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Torrid has an average rating of “Hold” and an average target price of $5.00.

Torrid Stock Performance

Shares of CURV opened at $5.76 on Friday. Torrid has a one year low of $2.18 and a one year high of $9.14. The stock has a 50-day moving average price of $6.10 and a 200 day moving average price of $4.96. The company has a market capitalization of $603.09 million, a P/E ratio of 38.38, a P/E/G ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last released its earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. As a group, equities research analysts forecast that Torrid will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in shares of Torrid by 10.9% during the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock valued at $90,000 after purchasing an additional 1,685 shares during the last quarter. Corebridge Financial Inc. boosted its position in Torrid by 53.6% during the 4th 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Torrid by 55.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after buying an additional 4,013 shares during the last quarter. Wells Fargo & Company MN increased its position in Torrid by 150.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock worth $49,000 after buying an additional 5,678 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Torrid by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after buying an additional 6,968 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

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.