Torrid (NYSE:CURV) Price Target Cut to $18.00

Torrid (NYSE:CURV) had its price target reduced by Telsey Advisory Group from $28.00 to $18.00 in a report released on Tuesday morning, Analyst Ratings Network reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Torrid from a sell rating to a hold rating in a research report on Tuesday, December 7th. Morgan Stanley decreased their price target on shares of Torrid from $14.00 to $12.00 and set an equal weight rating for the company in a report on Monday, December 27th. The Goldman Sachs Group reduced their target price on shares of Torrid from $26.00 to $23.00 and set a neutral rating for the company in a research note on Friday, October 15th. Robert W. Baird reduced their target price on shares of Torrid from $30.00 to $18.00 and set an outperform rating for the company in a research note on Thursday, December 9th. They noted that the move was a valuation call. Finally, Cowen reduced their target price on shares of Torrid from $30.00 to $20.00 and set an outperform rating for the company in a research note on Thursday, December 9th. The analyst said its 3Q experienced sales pressure on supply-chain related inventory delays and believes its multiple is likely to contract in near-term. He noted they narrowed FY2021 outlook and its 4Q guidance is lower versus the Street on inflationary headwinds including air freight and potential inventory delays. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $19.83.

Shares of CURV opened at $9.51 on Tuesday. The stock has a 50 day simple moving average of $13.65. Torrid has a 12-month low of $8.06 and a 12-month high of $33.19.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Tuesday, December 7th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). The firm had revenue of $306.24 million for the quarter, compared to the consensus estimate of $311.36 million. The business’s revenue was up 13.4% on a year-over-year basis. Research analysts expect that Torrid will post 1.13 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CURV. SG Americas Securities LLC acquired a new stake in shares of Torrid in the 3rd quarter valued at $105,000. Victory Capital Management Inc. acquired a new position in Torrid during the 3rd quarter worth about $1,877,000. Deutsche Bank AG acquired a new position in Torrid during the 3rd quarter worth about $113,000. BlackRock Inc. acquired a new position in Torrid during the 3rd quarter worth about $9,158,000. Finally, Lord Abbett & CO. LLC acquired a new position in Torrid during the 3rd quarter worth about $23,809,000. Institutional investors own 14.48% of the company’s stock.

About Torrid

Torrid Holdings Inc focuses on operating as a holding company for Torrid Parent Inc that 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, 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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