Torrid (NYSE:CURV) Shares Down 5.5% - Here's Why

Torrid Holdings Inc. (NYSE:CURV - Get Free Report)'s stock price was down 5.5% on Friday . The company traded as low as $5.04 and last traded at $5.01. Approximately 100,636 shares were traded during trading, a decline of 73% from the average daily volume of 375,837 shares. The stock had previously closed at $5.30.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CURV shares. The Goldman Sachs Group cut Torrid from a "neutral" rating to a "sell" rating and set a $4.00 price target on the stock. in a research report on Tuesday, April 22nd. Telsey Advisory Group boosted their target price on shares of Torrid from $5.00 to $6.00 and gave the company a "market perform" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $4.75.

Torrid Stock Performance

The company has a market cap of $540.52 million, a price-to-earnings ratio of 34.54, a PEG ratio of 1.03 and a beta of 1.94. The business has a fifty day moving average price of $5.55 and a 200 day moving average price of $5.38.

Torrid (NYSE:CURV - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The firm had revenue of $275.60 million during the quarter, compared to the consensus estimate of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, equities analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Trading of Torrid

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in shares of Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company's stock worth $49,000 after buying an additional 5,678 shares in the last quarter. Corebridge Financial Inc. increased its holdings in Torrid by 53.6% in the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company's stock worth $53,000 after purchasing an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Torrid by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company's stock valued at $59,000 after purchasing an additional 4,013 shares during the last quarter. Deutsche Bank AG bought a new position in Torrid in the first quarter valued at about $68,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Torrid during the fourth quarter valued at about $80,000. Institutional investors and hedge funds own 81.82% of the company's stock.

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.

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