Torrid Holdings Inc. (NYSE:CURV) Given Consensus Recommendation of “Reduce” by Brokerages

Torrid Holdings Inc. (NYSE:CURV) has received a consensus recommendation of “Reduce” from the eight research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $1.44.

A number of brokerages recently weighed in on CURV. Wall Street Zen raised Torrid from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Torrid in a report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a report on Monday, April 20th. Zacks Research downgraded Torrid from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, BTIG Research reiterated a “neutral” rating on shares of Torrid in a research report on Friday, June 5th.

Insiders Place Their Bets

In other news, insider Ashlee Wheeler sold 30,013 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $1.98, for a total value of $59,425.74. Following the sale, the insider directly owned 205,856 shares in the company, valued at $407,594.88. This represents a 12.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paula Dempsey sold 42,785 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $2.06, for a total value of $88,137.10. Following the completion of the sale, the chief financial officer owned 227,923 shares in the company, valued at $469,521.38. This represents a 15.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.77% of the stock is currently owned by insiders.

Institutional Trading of Torrid

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jain Global LLC purchased a new stake in shares of Torrid in the fourth quarter valued at $55,000. Wells Fargo & Company MN lifted its position in Torrid by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock worth $37,000 after buying an additional 11,962 shares during the period. Deutsche Bank AG lifted its position in Torrid by 139.8% during the fourth quarter. Deutsche Bank AG now owns 92,484 shares of the company’s stock worth $91,000 after buying an additional 53,922 shares during the period. Goldman Sachs Group Inc. lifted its position in Torrid by 324.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 76,610 shares of the company’s stock worth $75,000 after buying an additional 58,559 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Torrid during the third quarter worth about $87,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Price Performance

Shares of CURV stock opened at $1.93 on Monday. The business’s fifty day moving average price is $1.72 and its 200 day moving average price is $1.40. Torrid has a 1-year low of $0.94 and a 1-year high of $5.17. The firm has a market capitalization of $191.58 million, a PE ratio of -16.04 and a beta of 0.93.

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

Torrid Company Profile

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.