Torrid Holdings Inc. (NYSE:CURV) Receives Average Recommendation of “Reduce” from Analysts

Shares of Torrid Holdings Inc. (NYSE:CURV) have earned an average recommendation of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $1.6375.

A number of research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen raised Torrid from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research report on Friday, July 17th. Morgan Stanley restated an “equal weight” rating and issued a $1.80 target price on shares of Torrid in a research note on Monday, July 6th. Finally, BTIG Research reissued a “neutral” rating on shares of Torrid in a research report on Friday, June 5th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CURV. Wells Fargo & Company MN raised its position in Torrid by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock valued at $37,000 after purchasing an additional 11,962 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Torrid by 985.7% in the third quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock valued at $42,000 after buying an additional 22,030 shares during the period. Abel Hall LLC acquired a new position in shares of Torrid in the 4th quarter valued at $49,000. Royal Bank of Canada lifted its stake in Torrid by 134.1% in the first quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock valued at $50,000 after buying an additional 16,119 shares during the period. Finally, Jain Global LLC bought a new position in Torrid during the 4th quarter worth approximately $55,000. 81.82% of the stock is owned by institutional investors and hedge funds.

Torrid Stock Performance

Torrid stock opened at $2.38 on Friday. Torrid has a twelve month low of $0.94 and a twelve month high of $2.82. The firm has a market cap of $236.36 million, a PE ratio of -19.79 and a beta of 0.89. The firm’s 50 day moving average price is $1.81 and its two-hundred day moving average price is $1.56.

Torrid (NYSE:CURV) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The firm had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. Equities analysts anticipate that Torrid will post -0.03 EPS for the current fiscal year.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.