Torrid (NYSE:CURV) Sees Strong Trading Volume – Here’s What Happened

Torrid Holdings Inc. (NYSE:CURV) shares saw unusually-strong trading volume on Wednesday . Approximately 932,021 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 299,539 shares.The stock last traded at $6.27 and had previously closed at $6.68.

Analyst Ratings Changes

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

Torrid Trading Up 0.9 %

The company has a market cap of $673.61 million, a price-to-earnings ratio of 42.87, a P/E/G ratio of 2.07 and a beta of 1.96. The business has a fifty day moving average price of $5.45 and a two-hundred day moving average price of $5.26.

Torrid (NYSE:CURV) last released its quarterly earnings data 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%. On average, analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in Torrid by 10.9% in the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock valued at $90,000 after buying an additional 1,685 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Torrid by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after purchasing an additional 6,968 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Torrid by 125.2% in the third quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock worth $82,000 after purchasing an additional 11,551 shares during the period. Barclays PLC lifted 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. Finally, Maven Securities LTD bought a new stake in Torrid during the 3rd quarter valued at approximately $98,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.