Torrid (NYSE:CURV) Stock Price Down 6% - What's Next?

Shares of Torrid Holdings Inc. (NYSE:CURV - Get Free Report) were down 6% on Monday . The stock traded as low as $6.54 and last traded at $6.64. Approximately 282,795 shares traded hands during trading, a decline of 3% from the average daily volume of 292,083 shares. The stock had previously closed at $7.06.

Wall Street Analysts Forecast Growth

CURV has been the topic of a number of recent analyst reports. Telsey Advisory Group decreased their target price on Torrid from $8.00 to $5.00 and set a "market perform" rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley boosted their target price 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. Bank of America initiated coverage on Torrid in a research report on Friday, December 6th. They set a "buy" rating and a $5.00 price objective on the stock. Finally, The Goldman Sachs Group cut their price target on Torrid from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Torrid currently has a consensus rating of "Hold" and an average price target of $5.00.

Torrid Price Performance

The stock has a 50-day moving average price of $5.32 and a 200-day moving average price of $5.25. The company has a market capitalization of $673.61 million, a P/E ratio of 42.87, a P/E/G ratio of 2.07 and a beta of 1.96.

Torrid (NYSE:CURV - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. Sell-side analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in Torrid by 10.9% in the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company's stock worth $90,000 after purchasing an additional 1,685 shares during the period. JPMorgan Chase & Co. boosted its holdings in Torrid by 125.2% in the third quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company's stock worth $82,000 after acquiring an additional 11,551 shares in the last quarter. Barclays PLC grew its stake in Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company's stock valued at $69,000 after acquiring an additional 13,584 shares during the period. Geode Capital Management LLC increased its holdings in shares of Torrid by 11.4% during the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company's stock valued at $1,022,000 after acquiring an additional 26,703 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Torrid during the third quarter worth approximately $145,000. 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.