Torrid (NYSE:CURV) Shares Up 5.5% – What’s Next?

Shares of Torrid Holdings Inc. (NYSE:CURV) shot up 5.5% during mid-day trading on Wednesday . The company traded as high as $5.72 and last traded at $5.91. 21,048 shares changed hands during trading, a decline of 94% from the average session volume of 341,965 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CURV shares. Bank of America assumed coverage on Torrid in a report on Friday, December 6th. They issued a “buy” rating and a $5.00 price target on the stock. Morgan Stanley upped their target price on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group raised their price target on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group boosted their price objective on shares of Torrid from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Torrid currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Torrid Stock Performance

The company has a market capitalization of $599.31 million, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The stock’s fifty day simple moving average is $6.08 and its 200-day simple moving average is $4.94.

Torrid (NYSE:CURV) last announced its earnings results 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 firm had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Torrid’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. On average, equities analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently added to or reduced their stakes in CURV. Nomura Holdings Inc. purchased a new stake in Torrid in the 4th quarter valued at about $14,240,000. Centiva Capital LP purchased a new stake in Torrid in the third quarter valued at approximately $3,930,000. Shay Capital LLC grew its holdings in Torrid by 140.2% in the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock valued at $2,505,000 after purchasing an additional 279,521 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Torrid by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after purchasing an additional 222,504 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Torrid by 4,794.2% during the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock worth $2,215,000 after purchasing an additional 414,942 shares during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.