Torrid Holdings Inc. (NYSE:CURV) Receives $3.03 Average Target Price from Brokerages

Torrid Holdings Inc. (NYSE:CURV) has been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $1.44.

A number of analysts have issued reports on the stock. BTIG Research reiterated a “neutral” rating on shares of Torrid in a report on Friday, September 5th. Wall Street Zen cut Torrid from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded Torrid from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Morgan Stanley restated an “underweight” rating and set a $1.01 price target on shares of Torrid in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research note on Wednesday, October 8th.

Torrid Trading Down 5.7%

Shares of CURV opened at $1.09 on Thursday. The business’s 50 day moving average is $1.36 and its 200 day moving average is $2.45. Torrid has a 12-month low of $1.08 and a 12-month high of $7.19. The company has a market capitalization of $107.60 million, a PE ratio of -108.50 and a beta of 1.47.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $235.15 million during the quarter, compared to the consensus estimate of $239.90 million. Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.During the same quarter in the previous year, the company earned ($0.01) earnings per share. Equities research analysts predict that Torrid will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Ashlee Wheeler sold 16,959 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $1.78, for a total transaction of $30,187.02. Following the sale, the insider owned 107,443 shares of the company’s stock, valued at $191,248.54. This represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Fund 1 Investments, Llc sold 25,000 shares of Torrid stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total transaction of $32,750.00. Following the completion of the transaction, the insider directly owned 9,904,856 shares of the company’s stock, valued at $12,975,361.36. The trade was a 0.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 67,959 shares of company stock worth $108,697. Insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CURV. Rhumbline Advisers boosted its holdings in shares of Torrid by 27.1% in the 1st quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after purchasing an additional 4,673 shares during the period. Bank of New York Mellon Corp boosted its stake in Torrid by 19.3% during the first quarter. Bank of New York Mellon Corp now owns 40,335 shares of the company’s stock worth $221,000 after buying an additional 6,532 shares during the period. State of Wyoming increased its position in Torrid by 17.3% during the second quarter. State of Wyoming now owns 44,628 shares of the company’s stock valued at $132,000 after acquiring an additional 6,580 shares during the last quarter. Creative Planning raised its stake in shares of Torrid by 45.4% in the second quarter. Creative Planning now owns 37,291 shares of the company’s stock valued at $110,000 after acquiring an additional 11,641 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Torrid in the first quarter valued at $68,000. 81.82% of the stock is currently owned by hedge funds and other 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, Torrid Curve, CURV, and Lovesick 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.