Torrid Holdings Inc. (NYSE:CURV) Stock Has Average Target Price of $1.81

Key Points

• Analyst sentiment is cautious: Torrid has an average “Reduce” rating from eight brokerages, with two sell ratings, five holds and one buy. The average 12-month price target is $1.81, below the reported share price of $2.38.
• Institutional ownership is substantial: Institutional investors hold 81.82% of Torrid’s stock, with several funds—including Royal Bank of Canada, Deutsche Bank and JB Capital Partners—recently adding or initiating positions.
• Quarterly results beat earnings expectations but missed on revenue: Torrid reported adjusted earnings of $0.05 per share versus consensus estimates of a $0.03 loss, while revenue of $231.73 million fell short of the $237.24 million estimate. Analysts expect a full-year loss of $0.04 per share.

Shares of Torrid Holdings Inc. (NYSE:CURV - Get Free Report) have been assigned an average rating of "Reduce" from the eight brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $1.81.

Several analysts have issued reports on CURV shares. BTIG Research reissued a "neutral" rating on shares of Torrid in a research note on Friday, June 5th. Zacks Research cut shares of Torrid from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Morgan Stanley reissued an "equal weight" rating and issued a $1.80 target price on shares of Torrid in a research report on Monday, July 6th. Weiss Ratings restated a "sell (d)" rating on shares of Torrid in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Torrid from a "sell" rating to a "hold" rating in a report on Saturday, June 13th.

Institutional Trading of Torrid

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake 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 valued at $50,000 after purchasing an additional 16,119 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Torrid during the 2nd quarter worth about $63,000. Ieq Capital LLC acquired a new stake in Torrid in the second quarter worth $104,000. Bank of New York Mellon Corp acquired a new position in Torrid in the second quarter valued at about $125,000. Finally, JB Capital Partners LP acquired a new position in shares of Torrid in the 2nd quarter valued at approximately $280,500. Institutional investors own 81.82% of the company's stock.

Torrid Price Performance

Shares of NYSE CURV opened at $2.38 on Wednesday. Torrid has a 1-year low of $0.94 and a 1-year high of $2.86. The company has a market capitalization of $236.84 million, a price-to-earnings ratio of -26.39 and a beta of 0.84. The business has a 50-day moving average of $2.35 and a 200-day moving average of $1.97.

Torrid (NYSE:CURV - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.08. The firm had revenue of $231.73 million for the quarter, compared to analyst estimates of $237.24 million. Research analysts expect that Torrid will post -0.04 EPS for the current fiscal year.

About Torrid

Torrid Holdings Inc is a specialty retailer focused on fashion apparel, lingerie and accessories for women who wear sizes 10 to 30. Through its Torrid brand, the company offers dresses, tops, bottoms, activewear, outerwear, intimates, swimwear, footwear and accessories, with an emphasis on fit, style and inclusive sizing.

Founded in 2001, Torrid operates an omnichannel retail model that combines a network of stores with its e-commerce platform. The company serves customers primarily in the United States and Canada, offering products through physical retail locations, its website and other digital shopping channels.

Torrid Holdings became a publicly traded company in 2021.

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