Torrid (NYSE:CURV) Stock Price Up 1.9% - Still a Buy?

Key Points

• Torrid shares rose 1.9% to $2.395 on Monday, although trading volume was 69% below the stock’s average daily volume.
• Analyst sentiment remains cautious: the consensus rating is “Reduce”, with five Hold, two Sell and one Buy rating, and a consensus price target of $1.81.
• Torrid exceeded quarterly earnings expectations with $0.05 in EPS versus a projected loss of $0.03, but revenue of $231.73 million fell short of the $237.24 million consensus estimate.

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) shot up 1.9% on Monday. The company traded as high as $2.47 and last traded at $2.3950. 147,513 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 479,281 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

CURV has been the topic of several recent analyst reports. Wall Street Zen upgraded Torrid from a "sell" rating to a "hold" rating in a research note on Saturday, June 13th. Morgan Stanley reaffirmed an "equal weight" rating and set a $1.80 price target on shares of Torrid in a report on Monday, July 6th. Bank of America increased their price objective on Torrid from $2.25 to $2.70 and gave the company a "buy" rating in a research report on Friday, September 4th. BTIG Research reiterated a "neutral" rating on shares of Torrid in a report on Friday, June 5th. Finally, Zacks Research lowered Torrid from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $1.81.

Torrid Trading Up 1.9%

The firm has a market capitalization of $238.83 million, a P/E ratio of -26.61 and a beta of 0.84. The stock has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $1.96.

Torrid (NYSE:CURV - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.08. The business had revenue of $231.73 million during the quarter, compared to the consensus estimate of $237.24 million. As a group, sell-side analysts expect that Torrid Holdings Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Torrid by 134.1% during the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company's stock valued at $50,000 after acquiring an additional 16,119 shares during the period. Deutsche Bank AG bought a new position in Torrid in the 2nd quarter worth $63,000. Ieq Capital LLC bought a new position in Torrid in the 2nd quarter worth $104,000. Bank of New York Mellon Corp purchased a new position in Torrid during the second quarter valued at $125,000. Finally, JB Capital Partners LP purchased a new position in Torrid during the second quarter valued at $280,500. 81.82% of the stock is currently owned by institutional investors.

Torrid Company Profile

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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