Torrid (NYSE:CURV) Stock Price Down 4%

Shares of Torrid Holdings Inc. (NYSE:CURV) traded down 4% on Wednesday . The company traded as low as $4.80 and last traded at $4.82. 7,378 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 117,495 shares. The stock had previously closed at $5.02.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Telsey Advisory Group lifted their target price on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Finally, B. Riley initiated coverage on Torrid in a research report on Thursday, February 8th. They set a “buy” rating and a $7.00 target price for the company. One equities 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 company. Based on data from MarketBeat.com, Torrid presently has an average rating of “Hold” and an average target price of $4.39.

Torrid Price Performance

The stock has a market cap of $532.08 million, a price-to-earnings ratio of 50.51 and a beta of 1.99. The stock has a fifty day moving average of $4.49 and a 200 day moving average of $4.33.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Torrid had a negative return on equity of 5.42% and a net margin of 0.99%. The company had revenue of $293.54 million during the quarter, compared to the consensus estimate of $276.20 million. During the same period in the previous year, the company posted ($0.04) earnings per share. Torrid’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities analysts expect that Torrid Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fund 1 Investments LLC boosted its holdings in Torrid by 493.6% during the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after acquiring an additional 166,841 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Torrid during the 3rd quarter worth about $54,000. Great Lakes Advisors LLC acquired a new position in Torrid during the fourth quarter worth approximately $93,000. Nisa Investment Advisors LLC acquired a new position in Torrid during the fourth quarter worth approximately $62,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Torrid by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 178,039 shares of the company’s stock valued at $393,000 after purchasing an additional 6,368 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

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.