Torrid Holdings Inc. (NYSE:CURV) Given Consensus Recommendation of “Reduce” by Brokerages

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

CURV has been the subject of a number of recent analyst reports. BTIG Research reaffirmed a “neutral” rating on shares of Torrid in a report on Friday, June 5th. Wall Street Zen raised shares of Torrid from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research lowered Torrid from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research note on Monday, April 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $1.80 price target on shares of Torrid in a report on Monday, July 6th.

Torrid Price Performance

Shares of CURV opened at $2.29 on Friday. Torrid has a 12 month low of $0.94 and a 12 month high of $2.88. The stock’s 50-day moving average is $1.72 and its two-hundred day moving average is $1.51. The stock has a market cap of $227.70 million, a PE ratio of -19.07 and a beta of 0.89.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The firm had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $239.88 million. On average, research analysts anticipate that Torrid will post -0.03 earnings per share for the current year.

Institutional Trading of Torrid

A number of hedge funds have recently made changes to their positions in CURV. Wells Fargo & Company MN increased 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 worth $37,000 after buying an additional 11,962 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in 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 acquiring an additional 22,030 shares in the last quarter. Abel Hall LLC acquired a new position in Torrid during the 4th quarter worth $49,000. Royal Bank of Canada increased its position in shares of Torrid by 134.1% in the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after purchasing an additional 16,119 shares during the last quarter. Finally, Jain Global LLC acquired a new stake in shares of Torrid in the 4th quarter valued at about $55,000. Institutional investors and hedge funds 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.