Torrid (NYSE:CURV) Stock Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Torrid shares rose above their 50-day moving average, reaching $2.51 and last trading at $2.45, compared with a 50-day average of $2.30.
• Analyst sentiment remains cautious: Torrid has an average “Reduce” rating and a consensus price target of $1.81, despite Bank of America raising its target to $2.70 and maintaining a “Buy” rating.
• The company beat quarterly EPS expectations, reporting $0.05 versus a projected loss of $0.03, although revenue of $231.73 million fell short of the $237.24 million consensus estimate.

Torrid Holdings Inc. (NYSE:CURV - Get Free Report)'s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $2.30 and traded as high as $2.51. Torrid shares last traded at $2.45, with a volume of 412,173 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America increased their target price on shares of Torrid from $2.25 to $2.70 and gave the stock a "buy" rating in a research report on Friday, September 4th. William Blair reiterated a "market perform" rating on shares of Torrid in a research note on Tuesday, October 20th. Weiss Ratings reissued a "sell (d)" rating on shares of Torrid in a report on Thursday, October 15th. Finally, Morgan Stanley began coverage on Torrid in a research note on Monday, July 6th. They issued an "equal weight" rating and a $1.80 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $1.81.

Torrid Stock Performance

The business's 50 day moving average is $2.30 and its 200-day moving average is $1.85. The firm has a market capitalization of $244.31 million, a price-to-earnings ratio of -27.22 and a beta of 0.69.

Torrid (NYSE:CURV - Get Free Report) last announced its earnings results on Thursday, September 3rd. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. The firm had revenue of $231.73 million during the quarter, compared to the consensus estimate of $237.24 million. Equities research analysts forecast that Torrid Holdings Inc. will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Torrid by 2.3% in the 1st quarter. Bank of America Corp DE now owns 631,261 shares of the company's stock valued at $1,124,000 after purchasing an additional 14,420 shares during the period. Royal Bank of Canada increased its stake in Torrid by 134.1% during 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 in the last quarter. Deutsche Bank AG bought a new stake in Torrid during the 2nd quarter worth approximately $63,000. Ieq Capital LLC acquired a new stake in Torrid during the 2nd quarter worth approximately $104,000. Finally, Bank of New York Mellon Corp acquired a new stake in Torrid during the 2nd quarter worth approximately $125,000. 81.82% of the stock is currently owned by institutional investors.

About Torrid

Torrid Holdings Inc is a specialty retailer focused on fashion for women who wear sizes 10 to 30. The company offers a broad assortment of apparel, including dresses, tops, bottoms, denim, activewear, outerwear and intimates, along with footwear, accessories and beauty products.

Operating under the Torrid brand, the company serves customers through an omnichannel model that combines brick-and-mortar stores with its e-commerce platform. Its merchandise is designed around fit, comfort and contemporary styles for the plus-size market, and the company also offers extended-size collections and specialized fit options.

Founded in 2001, Torrid primarily serves customers in the United States and Canada.

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