Torrid (NYSE:CURV) Shares Climb 1.9% – Time to Buy?

Torrid Holdings Inc. (NYSE:CURV) shares were up 1.9% on Monday. The stock traded as high as $2.47 and last traded at $2.3950. 147,513 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 479,281 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

CURV has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $1.80 price target on shares of Torrid in a research report on Monday, July 6th. Bank of America raised their price objective on Torrid from $2.25 to $2.70 and gave the stock a “buy” rating in a research note on Friday, September 4th. Zacks Research lowered Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen upgraded Torrid from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $1.81.

Torrid Price Performance

The company’s 50-day moving average price is $2.35 and its 200-day moving average price is $1.97. The company has a market cap of $241.82 million, a P/E ratio of -26.94 and a beta of 0.84.

Torrid (NYSE:CURV) last announced its earnings results on Thursday, September 3rd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $231.73 million during the quarter, compared to analyst estimates of $237.24 million. On average, equities research analysts predict that Torrid Holdings Inc. will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Torrid by 134.1% during the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after acquiring an additional 16,119 shares in the last quarter. Deutsche Bank AG acquired a new position in Torrid during the second quarter worth $63,000. Ieq Capital LLC bought a new position in Torrid in the second quarter valued at $104,000. Bank of New York Mellon Corp acquired a new stake in Torrid in the 2nd quarter valued at $125,000. Finally, JB Capital Partners LP acquired a new stake in Torrid in the 2nd quarter valued at $280,500. Institutional investors own 81.82% of the company’s stock.

Torrid Company Profile

Torrid Holdings Inc is a specialty retailer focused on fashion apparel, lingerie and accessories for women who wear sizes 10 to 30. Through its Torrid brand, the company offers dresses, tops, bottoms, activewear, outerwear, intimates, swimwear, footwear and accessories, with an emphasis on fit, style and inclusive sizing.

Founded in 2001, Torrid operates an omnichannel retail model that combines a network of stores with its e-commerce platform. The company serves customers primarily in the United States and Canada, offering products through physical retail locations, its website and other digital shopping channels.

Torrid Holdings became a publicly traded company in 2021.