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

Torrid Holdings Inc. (NYSE:CURV) has earned an average rating of “Reduce” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $1.6375.

Several equities research analysts have commented on the stock. Morgan Stanley restated an “equal weight” rating and set a $1.80 target price on shares of Torrid in a research report on Monday, July 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a report on Friday, July 17th. Zacks Research downgraded shares of Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen upgraded shares of Torrid from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, BTIG Research reissued a “neutral” rating on shares of Torrid in a report on Friday, June 5th.

Torrid Trading Down 4.6%

Shares of CURV stock opened at $2.49 on Tuesday. The stock has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $1.68. The company has a market cap of $247.80 million, a price-to-earnings ratio of -20.75 and a beta of 0.85. Torrid has a 12-month low of $0.94 and a 12-month high of $2.86.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Thursday, June 4th. The company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. The business had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. On average, equities analysts forecast that Torrid will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Torrid by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock worth $37,000 after acquiring an additional 11,962 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Torrid by 985.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock worth $42,000 after acquiring an additional 22,030 shares during the period. Abel Hall LLC purchased a new position in Torrid in the 4th quarter valued at approximately $49,000. Royal Bank of Canada increased its stake in Torrid by 134.1% in the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock valued at $50,000 after purchasing an additional 16,119 shares in the last quarter. Finally, Jain Global LLC acquired a new position in Torrid during the fourth quarter worth $55,000. 81.82% of the stock is currently 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.