Torrid (NYSE:CURV) Shares Down 7.2% – Here’s Why

Shares of Torrid Holdings Inc. (NYSE:CURV) dropped 7.2% during trading on Tuesday . The company traded as low as $5.71 and last traded at $5.52. Approximately 33,118 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 309,960 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Telsey Advisory Group increased their target price on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a report on Friday. Morgan Stanley lifted their target price on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their price target on Torrid from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Bank of America began coverage on Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Torrid Stock Down 7.1 %

The business has a fifty day moving average of $6.10 and a 200 day moving average of $4.94. The firm has a market cap of $579.31 million, a P/E ratio of 36.87, a PEG ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Research analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Trading of Torrid

A number of institutional investors have recently bought and sold shares of CURV. Charles Schwab Investment Management Inc. raised its holdings in Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after acquiring an additional 6,968 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Torrid during the 3rd quarter worth approximately $166,000. Centiva Capital LP acquired a new stake in Torrid in the third quarter valued at $3,930,000. Maven Securities LTD acquired a new stake in shares of Torrid in the third quarter valued at about $98,000. Finally, Quadrature Capital Ltd bought a new position in Torrid during the 3rd quarter worth approximately $104,000. Institutional investors own 81.82% of the company’s stock.

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.