Torrid Holdings Inc. (NYSE:CURV) Given Average Recommendation of “Reduce” by Brokerages

Torrid Holdings Inc. (NYSE:CURV) has received a consensus recommendation of “Reduce” from the eight brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $1.44.

Several brokerages have issued reports on CURV. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price target on shares of Torrid in a research note on Monday, March 16th. Zacks Research lowered shares of Torrid from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a research note on Wednesday, January 21st.

Torrid Trading Down 3.6%

Shares of CURV stock opened at $1.76 on Wednesday. Torrid has a 1 year low of $0.94 and a 1 year high of $6.69. The firm’s fifty day moving average price is $1.30 and its two-hundred day moving average price is $1.30. The firm has a market capitalization of $174.31 million, a P/E ratio of -29.25 and a beta of 1.05.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. Torrid had a negative net margin of 0.70% and a negative return on equity of 1.69%. The firm had revenue of $236.17 million for the quarter, compared to analyst estimates of $231.11 million. As a group, equities research analysts forecast that Torrid will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CURV. Nomura Holdings Inc. increased its stake in shares of Torrid by 94.8% during the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after purchasing an additional 3,034,083 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Torrid by 191.1% during the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after purchasing an additional 1,258,934 shares during the last quarter. Fund 1 Investments LLC increased 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 last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Torrid during the 3rd quarter worth about $1,453,000. Finally, Millennium Management LLC acquired a new position in shares of Torrid during the 3rd quarter worth about $669,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.