Torrid (NYSE:CURV) Posts Earnings Results, Beats Expectations By $0.04 EPS

Torrid (NYSE:CURV) announced its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04, Briefing.com reports. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. The company had revenue of $293.54 million for the quarter, compared to analysts’ expectations of $276.20 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue was down 2.6% compared to the same quarter last year. Torrid updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Torrid Price Performance

Shares of NYSE CURV traded up $0.29 during trading on Friday, reaching $4.88. 181,179 shares of the stock traded hands, compared to its average volume of 75,324. Torrid has a 52-week low of $1.21 and a 52-week high of $6.86. The company has a 50-day moving average of $4.70 and a 200-day moving average of $3.92. The stock has a market capitalization of $508.01 million, a P/E ratio of 48.80 and a beta of 2.01.

Insider Activity

In other news, Director Valeria Rico Nikolov sold 25,380 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $5.62, for a total transaction of $142,635.60. Following the transaction, the director now owns 51,457 shares of the company’s stock, valued at approximately $289,188.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.23% of the company’s stock.

Institutional Trading of Torrid

A number of institutional investors have recently added to or reduced their stakes in CURV. Gilder Gagnon Howe & Co. LLC lifted its holdings in Torrid by 752.9% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 380,729 shares of the company’s stock worth $1,660,000 after purchasing an additional 336,088 shares in the last quarter. Millennium Management LLC increased its stake in Torrid by 936.2% in the 2nd quarter. Millennium Management LLC now owns 152,452 shares of the company’s stock worth $659,000 after acquiring an additional 137,740 shares during the last quarter. BlackRock Inc. increased its stake in Torrid by 15.8% in the 1st quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock worth $5,369,000 after acquiring an additional 120,915 shares during the last quarter. Citigroup Inc. increased its stake in Torrid by 2,270.7% in the 1st quarter. Citigroup Inc. now owns 77,284 shares of the company’s stock worth $469,000 after acquiring an additional 74,024 shares during the last quarter. Finally, Morgan Stanley increased its stake in Torrid by 134.4% in the 4th quarter. Morgan Stanley now owns 128,489 shares of the company’s stock worth $380,000 after acquiring an additional 73,664 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CURV. Telsey Advisory Group restated a “market perform” rating and issued a $5.00 price target on shares of Torrid in a research report on Monday. B. Riley started coverage on Torrid in a research note on Thursday, February 8th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on Torrid from $2.00 to $4.00 and gave the stock an “equal weight” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Torrid has a consensus rating of “Hold” and a consensus price target of $3.80.

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 and Torrid Curve 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.