Torrid Holdings Inc. (NYSE:CURV) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Torrid has a consensus “Reduce” rating from eight brokerages: two sell ratings, five holds, and one buy. The average 12-month price target is $1.64, below the stock’s reported opening price of $2.49.
• CURV shares were down 4.6%, with a market capitalization of approximately $247.8 million. The stock has traded between $0.94 and $2.86 over the past year.
• Torrid’s latest quarterly results exceeded expectations, reporting break-even EPS versus the consensus estimate of a $0.02 loss and revenue of $245.8 million versus $239.9 million expected. Institutional investors and hedge funds own approximately 81.8% of the company.

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) has received a consensus rating of "Reduce" from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $1.6375.

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

Torrid Trading Down 4.6%

CURV stock opened at $2.49 on Tuesday. The stock has a market cap of $247.80 million, a P/E ratio of -20.75 and a beta of 0.85. Torrid has a twelve month low of $0.94 and a twelve month high of $2.86. The company's 50 day moving average is $2.09 and its two-hundred day moving average is $1.68.

Torrid (NYSE:CURV - Get Free Report) last issued its earnings results on Thursday, June 4th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.02. The company had revenue of $245.80 million during the quarter, compared to analyst estimates of $239.88 million. On average, equities research analysts predict that Torrid will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Torrid

Several large investors have recently modified their holdings of CURV. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Torrid during the 1st quarter worth $3,560,000. SG Americas Securities LLC purchased a new stake in shares of Torrid in the first quarter valued at about $3,387,000. Abel Hall LLC purchased a new stake in shares of Torrid in the fourth quarter valued at about $49,000. Jain Global LLC acquired a new position in shares of Torrid during the fourth quarter worth about $55,000. Finally, Wells Fargo & Company MN increased its stake in shares of Torrid by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 37,834 shares of the company's stock worth $37,000 after acquiring an additional 11,962 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women's fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company's product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.

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