Torrid Holdings Inc. (NYSE:CURV) Receives Consensus Rating of “Reduce” from Brokerages

Torrid Holdings Inc. (NYSE:CURV) has been assigned a consensus rating of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $1.81.

Several research analysts have recently weighed in on CURV shares. Morgan Stanley restated an “equal weight” rating and set a $1.80 price objective on shares of Torrid in a research note on Monday, July 6th. Wall Street Zen raised Torrid from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Bank of America lifted their target price on Torrid from $2.25 to $2.70 and gave the stock a “buy” rating in a research note on Friday, September 4th. Zacks Research downgraded shares of Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research report on Friday, July 17th.

Torrid Trading Down 0.7%

NYSE:CURV opened at $2.48 on Wednesday. Torrid has a 1-year low of $0.94 and a 1-year high of $2.86. The business’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $1.99. The firm has a market capitalization of $247.51 million, a price-to-earnings ratio of -27.58 and a beta of 0.69.

Torrid (NYSE:CURV) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. The firm had revenue of $231.73 million during the quarter, compared to the consensus estimate of $237.24 million. Sell-side analysts predict that Torrid will post -0.04 earnings per share for the current year.

Institutional Trading of Torrid

Several hedge funds and other institutional investors have recently made changes to their positions in CURV. BlackRock Inc. bought a new position in shares of Torrid in the 2nd quarter worth about $3,585,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Torrid during the 1st quarter worth $3,560,000. Bank of America Corp DE bought a new stake in Torrid in the 2nd quarter worth about $859,000. SG Americas Securities LLC purchased a new position in shares of Torrid in the 1st quarter worth about $3,387,000. Finally, Deutsche Bank AG purchased a new stake in shares of Torrid during the 2nd quarter worth approximately $63,000. 81.82% of the stock is currently owned by institutional investors.

Torrid Company Profile

Torrid Holdings Inc is a specialty retailer focused on fashion for women in sizes 10 through 30. The company offers apparel designed for a range of body types, including dresses, tops, bottoms, denim, outerwear, activewear, swimwear, lingerie and sleepwear.

In addition to clothing, Torrid sells footwear, accessories, beauty products and other lifestyle merchandise. Its products are marketed through the Torrid brand and sold through a combination of company-operated stores and digital channels, including its e-commerce website.

Founded in 2001, Torrid is headquartered in the Los Angeles area of California and primarily serves customers in the United States and Canada.