Torrid (NYSE:CURV) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Torrid (NYSE:CURV) posted its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08, FiscalAI reports. The company had revenue of $231.73 million during the quarter, compared to the consensus estimate of $237.24 million.

Torrid Price Performance

Torrid stock traded down $0.05 during mid-day trading on Thursday, reaching $2.22. 556,240 shares of the company traded hands, compared to its average volume of 569,732. Torrid has a 52-week low of $0.94 and a 52-week high of $2.86. The firm has a market capitalization of $220.93 million, a price-to-earnings ratio of -18.50 and a beta of 0.84. The firm’s 50 day moving average price is $2.22 and its 200 day moving average price is $1.80.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CURV shares. Morgan Stanley reissued an “equal weight” rating and issued a $1.80 price target on shares of Torrid in a research note on Monday, July 6th. Wall Street Zen upgraded Torrid from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research lowered Torrid from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. BTIG Research reiterated a “neutral” rating on shares of Torrid in a research report on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.64.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Torrid by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock valued at $37,000 after purchasing an additional 11,962 shares during the period. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 22,030 shares during the period. Abel Hall LLC bought a new stake in Torrid in the 4th quarter worth approximately $49,000. Jain Global LLC purchased a new stake in Torrid during the 4th quarter valued at $55,000. Finally, Rhumbline Advisers raised 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 buying an additional 8,250 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

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.