Brokerages Set Torrid Holdings Inc. (NYSE:CURV) Target Price at $1.44

Torrid Holdings Inc. (NYSE:CURV) has earned a consensus rating of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $1.44.

A number of equities research analysts recently commented on the company. William Blair downgraded Torrid from an “outperform” rating to a “market perform” rating in a report on Thursday, October 23rd. Telsey Advisory Group decreased their price objective on shares of Torrid from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Thursday, December 4th. Wall Street Zen downgraded shares of Torrid from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Torrid in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group decreased their target price on shares of Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a research report on Friday, December 5th.

Torrid Trading Up 7.8%

NYSE:CURV opened at $1.06 on Monday. The company has a market capitalization of $104.66 million, a P/E ratio of -105.50 and a beta of 1.49. Torrid has a 12 month low of $0.94 and a 12 month high of $7.19. The firm has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.91.

Torrid (NYSE:CURV) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The firm had revenue of $235.15 million during the quarter, compared to analysts’ expectations of $239.90 million. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.During the same quarter last year, the business earned ($0.01) EPS. Equities analysts forecast that Torrid will post 0.14 EPS for the current year.

Insider Activity

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total value of $32,750.00. Following the sale, the insider owned 9,904,856 shares in the company, valued at $12,975,361.36. This represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CURV. Fund 1 Investments LLC grew its stake in shares of Torrid by 12.4% during the 2nd quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock worth $30,778,000 after purchasing an additional 1,150,726 shares during the period. Nomura Holdings Inc. lifted its stake in shares of Torrid by 94.8% in the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock valued at $10,908,000 after purchasing an additional 3,034,083 shares during the period. Bank of America Corp DE boosted its holdings in Torrid by 191.1% during the second quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after buying an additional 1,258,934 shares in the last quarter. Vanguard Group Inc. grew its position in Torrid by 13.3% during the third quarter. Vanguard Group Inc. now owns 1,310,698 shares of the company’s stock valued at $2,294,000 after buying an additional 153,973 shares during the period. Finally, Citadel Advisors LLC grew its position in Torrid by 10.0% during the third quarter. Citadel Advisors LLC now owns 874,608 shares of the company’s stock valued at $1,531,000 after buying an additional 79,357 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Torrid Company Profile

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.