Torrid (NYSE:CURV) Trading Up 5% – Still a Buy?

Torrid Holdings Inc. (NYSE:CURV) shot up 5% on Wednesday . The stock traded as high as $5.83 and last traded at $5.86. 10,952 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 334,282 shares. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

CURV has been the topic of several research analyst reports. Bank of America began coverage on Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 target price on the stock. Telsey Advisory Group upped their price objective on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a report on Friday. The Goldman Sachs Group lifted their target price on shares of Torrid from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Torrid presently has an average rating of “Hold” and an average target price of $4.88.

Torrid Price Performance

The firm has a market cap of $582.97 million, a PE ratio of 37.10, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The firm has a 50-day simple moving average of $6.10 and a 200 day simple moving average of $4.97.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Torrid’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. Sell-side analysts forecast that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Torrid

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock valued at $49,000 after buying an additional 5,678 shares during the last quarter. Corebridge Financial Inc. increased its holdings in shares of Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after acquiring an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Torrid by 55.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after purchasing an additional 4,013 shares during the last quarter. Barclays PLC boosted its stake in Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after purchasing an additional 13,584 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in Torrid during the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

About Torrid

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.