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

Shares of Torrid Holdings Inc. (NYSE:CURV) have been assigned an average recommendation of “Reduce” from the eight research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1.44.

A number of research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Torrid from $6.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Wall Street Zen cut Torrid from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. BTIG Research restated a “neutral” rating on shares of Torrid in a research report on Friday, September 5th. Morgan Stanley reaffirmed an “underweight” rating and set a $1.01 price objective on shares of Torrid in a research note on Thursday, December 4th. Finally, William Blair downgraded shares of Torrid from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 23rd.

Insider Activity at Torrid

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.31, for a total value of $32,750.00. Following the completion of the transaction, the insider 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.77% of the stock is currently owned by company insiders.

Institutional Trading of Torrid

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Torrid by 985.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock worth $42,000 after purchasing an additional 22,030 shares during the period. Rhumbline Advisers increased its stake in Torrid by 30.4% in the third quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $62,000 after purchasing an additional 8,250 shares during the last quarter. Deutsche Bank AG purchased a new position in Torrid during the first quarter worth about $68,000. Royce & Associates LP boosted its stake in Torrid by 161.4% in the 3rd quarter. Royce & Associates LP now owns 41,868 shares of the company’s stock worth $73,000 after buying an additional 25,854 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Torrid in the 3rd quarter valued at about $87,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

Torrid Stock Down 0.5%

NYSE:CURV opened at $1.04 on Monday. Torrid has a 52-week low of $0.94 and a 52-week high of $7.19. The stock has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $2.05. The company has a market capitalization of $102.67 million, a PE ratio of -103.50 and a beta of 1.47.

Torrid (NYSE:CURV) last posted its 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 for the quarter, compared to analysts’ expectations of $239.90 million. Torrid had a negative net margin of 0.18% and a negative return on equity of 1.69%. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, equities analysts anticipate that Torrid will post 0.14 earnings per share for the current 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.