Torrid (NYSE:CURV) Stock Price Down 4.3%

Torrid Holdings Inc. (NYSE:CURV)’s share price was down 4.3% during mid-day trading on Monday . The company traded as low as $5.07 and last traded at $5.07. Approximately 17,166 shares were traded during trading, a decline of 85% from the average daily volume of 111,717 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CURV. Telsey Advisory Group upped their price objective on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Monday, April 1st. B. Riley assumed coverage on Torrid in a report on Thursday, February 8th. They set a “buy” rating and a $7.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on Torrid from $2.95 to $5.75 and gave the company a “neutral” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Torrid presently has a consensus rating of “Hold” and an average target price of $4.39.

Torrid Stock Down 2.3 %

The stock has a market cap of $540.51 million, a P/E ratio of 51.90 and a beta of 1.91. The stock has a fifty day simple moving average of $4.57 and a 200-day simple moving average of $4.50.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $293.54 million during the quarter, compared to analysts’ expectations of $276.20 million. Torrid had a net margin of 0.99% and a negative return on equity of 5.42%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Torrid Holdings Inc. will post 0.17 earnings per share for the current year.

Institutional Trading of Torrid

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fund 1 Investments LLC raised its stake in shares of Torrid by 493.6% during the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after purchasing an additional 166,841 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Torrid in the 3rd quarter valued at about $54,000. Great Lakes Advisors LLC acquired a new position in Torrid during the fourth quarter worth approximately $93,000. Nisa Investment Advisors LLC bought a new stake in Torrid in the fourth quarter valued at approximately $62,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Torrid by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 178,039 shares of the company’s stock worth $393,000 after acquiring an additional 6,368 shares during the period. 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.