Torrid (NYSE:CURV) Announces Earnings Results, Beats Expectations By $0.04 EPS

Torrid (NYSE:CURV) announced its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04, Briefing.com reports. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. The firm had revenue of $293.54 million during the quarter, compared to the consensus estimate of $276.20 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Torrid updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Torrid Trading Up 6.3 %

CURV stock traded up $0.29 during trading on Friday, reaching $4.88. The stock had a trading volume of 181,179 shares, compared to its average volume of 75,324. The stock’s 50 day moving average is $4.70 and its two-hundred day moving average is $3.92. Torrid has a 52 week low of $1.21 and a 52 week high of $6.86. The firm has a market cap of $508.01 million, a PE ratio of 48.80 and a beta of 2.01.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. B. Riley started coverage on Torrid in a report on Thursday, February 8th. They set a “buy” rating and a $7.00 target price for the company. Telsey Advisory Group reissued a “market perform” rating and issued a $5.00 target price on shares of Torrid in a research note on Monday. Finally, Morgan Stanley increased their target price on Torrid from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.80.

Insider Transactions at Torrid

In other Torrid news, Director Valeria Rico Nikolov sold 25,380 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $5.62, for a total transaction of $142,635.60. Following the completion of the transaction, the director now owns 51,457 shares in the company, valued at approximately $289,188.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Torrid by 85.9% in the 1st quarter. Barclays PLC now owns 7,292 shares of the company’s stock worth $32,000 after acquiring an additional 3,369 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Torrid during the first quarter valued at approximately $49,000. JPMorgan Chase & Co. increased its holdings in shares of Torrid by 76.7% in the first quarter. JPMorgan Chase & Co. now owns 8,640 shares of the company’s stock valued at $52,000 after purchasing an additional 3,750 shares during the last quarter. American International Group Inc. raised its stake in Torrid by 34.8% during the first quarter. American International Group Inc. now owns 9,147 shares of the company’s stock worth $55,000 after purchasing an additional 2,362 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Torrid during the second quarter worth about $46,000. 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 and Torrid Curve 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.