Analysts Set Torrid Holdings Inc. (NYSE:CURV) Target Price at $1.64

Torrid Holdings Inc. (NYSE:CURV) has been given an average rating of “Reduce” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $1.6375.

A number of analysts recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and set a $1.80 price objective on shares of Torrid in a research report on Monday, July 6th. BTIG Research reaffirmed a “neutral” rating on shares of Torrid in a research report on Friday, June 5th. Wall Street Zen raised shares of Torrid from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research cut shares of Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research report on Friday.

Torrid Stock Up 0.7%

CURV opened at $2.31 on Friday. Torrid has a twelve month low of $0.94 and a twelve month high of $2.87. The firm has a 50 day moving average price of $1.77 and a 200-day moving average price of $1.54. The stock has a market capitalization of $230.39 million, a price-to-earnings ratio of -19.29 and a beta of 0.89.

Torrid (NYSE:CURV) last posted its earnings results on Thursday, June 4th. The company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. The company had revenue of $245.80 million during the quarter, compared to the consensus estimate of $239.88 million. As a group, analysts expect that Torrid will post -0.03 earnings per share for the current year.

Institutional Trading of Torrid

Several hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. raised its stake in shares of Torrid by 94.8% in the third quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock worth $10,908,000 after buying an additional 3,034,083 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Torrid in the 1st quarter worth approximately $3,560,000. SG Americas Securities LLC bought a new stake in Torrid during the 1st quarter worth approximately $3,387,000. Bank of America Corp DE raised its stake in Torrid by 191.1% during the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock worth $5,657,000 after acquiring an additional 1,258,934 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Torrid during the third quarter valued at approximately $1,453,000. Institutional investors own 81.82% of the company’s stock.

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.