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

Torrid Holdings Inc. (NYSE:CURV) has been given a consensus rating of “Reduce” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $1.44.

Several equities analysts have commented on CURV shares. Bank of America cut their price objective on Torrid from $6.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, December 4th. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price target on shares of Torrid from $1.50 to $0.75 and set a “sell” rating on the stock in a research note on Friday, December 5th. BTIG Research reissued a “neutral” rating on shares of Torrid in a research report on Friday, September 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $1.01 target price on shares of Torrid in a research report on Thursday, December 4th.

Torrid Trading Down 0.2%

Shares of NYSE:CURV opened at $0.97 on Monday. Torrid has a 12 month low of $0.94 and a 12 month high of $7.19. The company has a market capitalization of $96.64 million, a price-to-earnings ratio of -97.42 and a beta of 1.47. The firm’s 50-day moving average is $1.18 and its 200 day moving average is $1.99.

Torrid (NYSE:CURV) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $239.90 million. Torrid had a negative net margin of 0.18% and a negative return on equity of 1.69%. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities analysts forecast that Torrid will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Torrid news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total transaction of $32,750.00. Following the transaction, the insider directly owned 9,904,856 shares in the company, valued at $12,975,361.36. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.85% of the stock is owned by insiders.

Institutional Trading of Torrid

Several institutional investors and hedge funds have recently made changes to their positions in CURV. Nomura Holdings Inc. grew its holdings in 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 acquiring an additional 3,034,083 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Torrid by 191.1% in 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 period. Fund 1 Investments LLC boosted its stake in shares of Torrid by 12.4% during the second 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. Jacobs Levy Equity Management Inc. bought a new position in shares of Torrid during the third quarter valued at approximately $1,453,000. Finally, Millennium Management LLC purchased a new position in Torrid during the third quarter valued at approximately $669,000. 81.82% of the stock is currently owned by institutional investors.

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.