Torrid (NYSE:CURV) Trading Up 4.9% – What’s Next?

Torrid Holdings Inc. (NYSE:CURV)’s share price rose 4.9% during mid-day trading on Friday . The stock traded as high as $7.06 and last traded at $7.04. Approximately 265,255 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 284,075 shares. The stock had previously closed at $6.71.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Telsey Advisory Group lowered their target price on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 4th. The Goldman Sachs Group cut their price objective on Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. 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 target for the company. Finally, Morgan Stanley raised their target price on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Torrid currently has an average rating of “Hold” and a consensus price target of $5.00.

Torrid Price Performance

The stock has a fifty day moving average of $5.15 and a 200 day moving average of $5.33. The stock has a market cap of $741.68 million, a price-to-earnings ratio of 47.20, a P/E/G ratio of 1.92 and a beta of 1.91.

Torrid (NYSE:CURV) last posted its earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. As a group, equities analysts expect that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently made changes to their positions in CURV. Centiva Capital LP purchased a new position in Torrid in the third quarter valued at $3,930,000. GSA Capital Partners LLP grew its holdings in Torrid by 87.3% in the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock valued at $425,000 after purchasing an additional 50,439 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Torrid in the third quarter valued at approximately $166,000. XTX Topco Ltd acquired a new position in shares of Torrid during the 3rd quarter worth approximately $145,000. Finally, Geode Capital Management LLC grew its stake in Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after acquiring an additional 26,703 shares during the period. 81.82% of the stock is 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.