Torrid (NYSE:CURV) Shares Up 4.9% - Here's Why

Torrid Holdings Inc. (NYSE:CURV - Get Free Report)'s stock price shot up 4.9% during mid-day trading on Friday . The company traded as high as $7.06 and last traded at $7.04. 265,255 shares were traded during trading, a decline of 7% from the average session volume of 284,075 shares. The stock had previously closed at $6.71.

Analysts Set New Price Targets

A number of research firms have weighed in on CURV. Telsey Advisory Group reduced their price target on Torrid from $8.00 to $5.00 and set a "market perform" rating for the company in a research report on Wednesday, December 4th. Bank of America initiated coverage on shares of Torrid in a report on Friday, December 6th. They set a "buy" rating and a $5.00 target price for the company. The Goldman Sachs Group dropped their target price on Torrid from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley lifted their price target on Torrid from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.00.

Torrid Stock Performance

The company has a market capitalization of $700.32 million, a price-to-earnings ratio of 44.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.96. The firm has a fifty day moving average price of $5.32 and a 200-day moving average price of $5.25.

Torrid (NYSE:CURV - Get Free Report) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast 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 added to or reduced their stakes in the business. Centiva Capital LP acquired a new position in Torrid during the third quarter worth about $3,930,000. 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 worth $1,022,000 after buying an additional 26,703 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Torrid by 87.3% in the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company's stock valued at $425,000 after acquiring an additional 50,439 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Torrid by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company's stock valued at $346,000 after acquiring an additional 6,968 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Torrid during the 3rd quarter worth $166,000. 81.82% of the stock is currently owned by institutional investors.

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.