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

Torrid (NYSE:CURV) issued its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04, Briefing.com reports. The company had revenue of $293.54 million during the quarter, compared to analyst estimates of $276.20 million. Torrid had a net margin of 1.01% and a negative return on equity of 5.41%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) EPS. Torrid updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Torrid Stock Up 6.3 %

CURV stock traded up $0.29 during trading hours on Friday, hitting $4.88. The company’s stock had a trading volume of 181,179 shares, compared to its average volume of 75,324. The company has a market capitalization of $508.01 million, a PE ratio of 48.80 and a beta of 2.01. Torrid has a 12 month low of $1.21 and a 12 month high of $6.86. The stock has a 50 day moving average price of $4.70 and a two-hundred day moving average price of $3.92.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Valeria Rico Nikolov sold 25,380 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $5.62, for a total transaction of $142,635.60. Following the completion of the sale, the director now directly owns 51,457 shares of the company’s stock, valued at approximately $289,188.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.23% of the company’s stock.

Institutional Trading of Torrid

Hedge funds have recently bought and sold shares of the stock. ExodusPoint Capital Management LP bought a new stake in Torrid in the 2nd quarter valued at $86,000. Deutsche Bank AG boosted its holdings in Torrid by 92.5% in the 1st quarter. Deutsche Bank AG now owns 15,352 shares of the company’s stock valued at $67,000 after purchasing an additional 7,376 shares during the period. Renaissance Technologies LLC boosted its holdings in Torrid by 42.1% in the 4th quarter. Renaissance Technologies LLC now owns 22,600 shares of the company’s stock valued at $67,000 after purchasing an additional 6,700 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of Torrid in the 3rd quarter valued at $56,000. Finally, American International Group Inc. raised its stake in shares of Torrid by 34.8% in the 1st quarter. American International Group Inc. now owns 9,147 shares of the company’s stock valued at $55,000 after buying an additional 2,362 shares in the last quarter. 81.82% of the stock is 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 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.