Torrid (NYSE:CURV) Stock Price Down 7.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Torrid Price Performance

The firm’s fifty day moving average is $6.08 and its two-hundred day moving average is $4.93. The firm has a market capitalization of $567.99 million, a PE ratio of 36.15, a PEG ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last released its earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The firm had revenue of $275.60 million during the quarter, compared to the consensus estimate of $263.34 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

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

Torrid Company Profile

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.