Torrid Holdings Inc. (NYSE:CURV) Stock Rated “Reduce” by Sell-Side Analysts

Shares of Torrid Holdings Inc. (NYSE:CURV) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $1.81.

Several analysts have recently weighed in on CURV shares. Morgan Stanley reiterated an “equal weight” rating and set a $1.80 target price on shares of Torrid in a research report on Monday, July 6th. Bank of America increased their price target on shares of Torrid from $2.25 to $2.70 and gave the stock a “buy” rating in a research report on Friday, September 4th. Weiss Ratings restated a “sell (d)” rating on shares of Torrid in a research note on Thursday, October 15th. Finally, William Blair reaffirmed a “market perform” rating on shares of Torrid in a report on Tuesday.

Torrid Price Performance

Shares of Torrid stock opened at $2.04 on Friday. The firm has a market capitalization of $203.93 million, a PE ratio of -22.72 and a beta of 0.69. The company’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.06. Torrid has a 52-week low of $0.94 and a 52-week high of $2.86.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $231.73 million during the quarter, compared to analyst estimates of $237.24 million. Analysts predict that Torrid will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Torrid

Several institutional investors have recently bought and sold shares of the stock. Fund 1 Investments LLC grew its position in Torrid by 1.2% in the second quarter. Fund 1 Investments LLC now owns 9,847,478 shares of the company’s stock valued at $18,415,000 after acquiring an additional 119,433 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Torrid in the 1st quarter valued at $3,560,000. BlackRock Inc. acquired a new stake in shares of Torrid in the 2nd quarter valued at $3,585,000. SG Americas Securities LLC acquired a new stake in shares of Torrid in the 1st quarter valued at $3,387,000. Finally, Bank of America Corp DE grew its holdings in shares of Torrid by 2.3% in the 1st quarter. Bank of America Corp DE now owns 631,261 shares of the company’s stock worth $1,124,000 after purchasing an additional 14,420 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Torrid Company Profile

Torrid Holdings Inc is a specialty retailer focused on fashion for women who wear sizes 10 to 30. The company offers a broad assortment of apparel, including dresses, tops, bottoms, denim, activewear, outerwear and intimates, along with footwear, accessories and beauty products.

Operating under the Torrid brand, the company serves customers through an omnichannel model that combines brick-and-mortar stores with its e-commerce platform. Its merchandise is designed around fit, comfort and contemporary styles for the plus-size market, and the company also offers extended-size collections and specialized fit options.

Founded in 2001, Torrid primarily serves customers in the United States and Canada.