Torrid (NYSE:CURV) PT Lowered to $13.00 at Robert W. Baird

Torrid (NYSE:CURV) had its price objective trimmed by Robert W. Baird from $18.00 to $13.00 in a research report released on Tuesday morning, The Fly reports. The brokerage currently has an outperform rating on the stock.

CURV has been the topic of several other research reports. The Goldman Sachs Group reduced their price objective on shares of Torrid from $26.00 to $23.00 and set a neutral rating on the stock in a research note on Friday, October 15th. Cowen dropped their price target on shares of Torrid from $30.00 to $20.00 and set an outperform rating for the company in a research report 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. Zacks Investment Research raised shares of Torrid from a sell rating to a hold rating in a research report on Tuesday, December 7th. Telsey Advisory Group dropped their price target on shares of Torrid from $28.00 to $18.00 and set an outperform rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price target on shares of Torrid from $14.00 to $12.00 and set an equal weight rating for the company in a research report on Monday, December 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Torrid presently has an average rating of Buy and an average price target of $19.83.

Shares of CURV opened at $9.51 on Tuesday. The firm’s 50 day moving average price is $13.65. Torrid has a 1 year low of $8.06 and a 1 year 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 consensus estimate of $0.23 by ($0.06). The company had revenue of $306.24 million for the quarter, compared to analyst estimates of $311.36 million. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, research analysts forecast that Torrid will post 1.06 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. American International Group Inc. purchased a new position in shares of Torrid in the third quarter valued at $108,000. Bank of New York Mellon Corp purchased a new position in shares of Torrid in the third quarter valued at $449,000. Brookfield Asset Management Inc. purchased a new position in shares of Torrid in the third quarter valued at $2,314,000. Two Sigma Investments LP purchased a new position in shares of Torrid in the third quarter valued at $901,000. Finally, UBS Group AG purchased a new position in shares of Torrid in the third quarter valued at $36,000. Institutional investors and hedge funds 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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