Torrid (NYSE:CURV) Shares Up 5.5% – Here’s Why

Torrid Holdings Inc. (NYSE:CURV)’s stock price traded up 5.5% during trading on Wednesday . The stock traded as high as $5.72 and last traded at $5.91. 21,048 shares changed hands during trading, a decline of 94% from the average session volume of 341,965 shares. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CURV shares. Morgan Stanley raised their price objective on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on shares of Torrid from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Bank of America initiated coverage on shares of Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Telsey Advisory Group raised their target price on shares of Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.00.

Torrid Trading Down 1.9 %

The stock has a market capitalization of $575.64 million, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The firm has a 50-day moving average of $6.10 and a 200 day moving average of $4.93.

Torrid (NYSE:CURV) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Trading of Torrid

Several large investors have recently modified their holdings of CURV. Nomura Holdings Inc. purchased a new position in Torrid in the fourth quarter valued at about $14,240,000. Centiva Capital LP acquired a new position in shares of Torrid in the 3rd quarter valued at approximately $3,930,000. Shay Capital LLC boosted its stake in shares of Torrid by 140.2% during the 4th quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock valued at $2,505,000 after buying an additional 279,521 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Torrid by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after buying an additional 222,504 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Torrid by 4,794.2% in the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock valued at $2,215,000 after acquiring an additional 414,942 shares in the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Torrid Company Profile

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.