Torrid Holdings Inc. (NYSE:CURV) Receives Average Rating of “Reduce” from Analysts

Shares of Torrid Holdings Inc. (NYSE:CURV) have been assigned an average recommendation of “Reduce” from the eight analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $1.44.

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $1.01 price target on shares of Torrid in a report on Thursday, December 4th. William Blair lowered Torrid from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 23rd. Wall Street Zen lowered Torrid from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Torrid from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd.

Torrid Stock Performance

NYSE CURV opened at $1.08 on Tuesday. The firm has a market capitalization of $106.74 million, a price-to-earnings ratio of -107.60 and a beta of 1.49. Torrid has a one year low of $0.94 and a one year high of $6.95. The company’s 50 day moving average price is $1.12 and its 200 day moving average price is $1.49.

Torrid (NYSE:CURV) last released its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $235.15 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.01) EPS. Sell-side analysts forecast that Torrid will post 0.14 EPS for the current fiscal year.

Insider Transactions at Torrid

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Fund 1 Investments LLC raised its position in shares of Torrid by 12.4% in the 2nd quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock valued at $30,778,000 after purchasing an additional 1,150,726 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Torrid by 324.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 76,610 shares of the company’s stock worth $75,000 after buying an additional 58,559 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Torrid in the third quarter valued at $87,000. Cresset Asset Management LLC acquired a new stake in Torrid in the third quarter valued at $176,000. Finally, Rhumbline Advisers boosted its stake in Torrid by 30.4% during the 3rd quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $62,000 after acquiring an additional 8,250 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

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.