Torrid (NYSE:CURV) Stock Price Up 5% - Here's What Happened

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) traded up 5% during trading on Wednesday . The company traded as high as $5.83 and last traded at $5.86. 10,952 shares were traded 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 Analysts Forecast Growth

A number of analysts have commented on CURV shares. The Goldman Sachs Group lifted their target price on Torrid from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Friday. Bank of America began coverage on shares of 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 boosted their price target on Torrid from $5.00 to $6.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Morgan Stanley boosted their target price on Torrid from $3.00 to $4.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.00.

Torrid Stock Performance

The company has a market cap of $603.09 million, a PE ratio of 38.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The stock has a 50 day moving average of $6.10 and a 200-day moving average of $4.94.

Remove Ads

Torrid (NYSE:CURV - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The company had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. During the same quarter last year, the business earned ($0.04) earnings per share. The firm's revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Torrid

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company's stock worth $346,000 after buying an additional 6,968 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Torrid during the third quarter worth about $166,000. Centiva Capital LP acquired a new position in Torrid in the 3rd quarter valued at about $3,930,000. Maven Securities LTD purchased a new stake in shares of Torrid in the 3rd quarter valued at approximately $98,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Torrid during the 3rd quarter worth approximately $104,000. Hedge funds and other institutional investors own 81.82% of the company's stock.

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.