Torrid Holdings Inc. (NYSE:CURV) Receives $1.64 Consensus Price Target from Analysts

Torrid Holdings Inc. (NYSE:CURV) has been given a consensus rating of “Reduce” by the eight analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $1.6375.

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Torrid from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. 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. BTIG Research reaffirmed a “neutral” rating on shares of Torrid in a report on Friday, June 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research note on Monday, April 20th. Finally, Zacks Research cut shares of Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th.

Torrid Stock Down 0.3%

Shares of CURV stock opened at $2.32 on Friday. The stock’s 50-day moving average price is $1.74 and its 200 day moving average price is $1.52. The stock has a market capitalization of $231.28 million, a PE ratio of -19.37 and a beta of 0.89. Torrid has a 52-week low of $0.94 and a 52-week high of $2.88.

Torrid (NYSE:CURV) last posted 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 company had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. Analysts expect that Torrid will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in shares of Torrid by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock valued at $37,000 after buying an additional 11,962 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Torrid by 985.7% during the third quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock worth $42,000 after acquiring an additional 22,030 shares during the period. Abel Hall LLC purchased a new position in Torrid in the fourth quarter worth $49,000. Royal Bank of Canada raised its position in Torrid by 134.1% in the first quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after acquiring an additional 16,119 shares in the last quarter. Finally, Jain Global LLC acquired a new stake in Torrid in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

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.