Torrid (NYSE:CURV) Stock Price Down 2.7% – What’s Next?

Torrid Holdings Inc. (NYSE:CURV)’s stock price traded down 2.7% on Thursday . The stock traded as low as $5.85 and last traded at $5.95. 288,280 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 321,092 shares. The stock had previously closed at $6.11.

Analysts Set New Price Targets

Several brokerages have commented on CURV. Telsey Advisory Group decreased their price objective on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley upped their price target on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Finally, Bank of America started coverage on Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Torrid currently has an average rating of “Hold” and a consensus price target of $4.50.

Torrid Price Performance

The business’s fifty day simple moving average is $6.01 and its two-hundred day simple moving average is $5.10. The company has a market cap of $620.69 million, a PE ratio of 39.50, a PEG ratio of 1.03 and a beta of 1.96.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. As a group, analysts predict that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Torrid

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after acquiring an additional 6,968 shares during the period. Geode Capital Management LLC raised its position in shares of Torrid by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after purchasing an additional 26,703 shares during the last quarter. Barclays PLC raised its position in shares of Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after purchasing an additional 13,584 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Torrid by 87.3% in the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after buying an additional 50,439 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Torrid by 125.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock worth $82,000 after buying an additional 11,551 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

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.