Torrid (NYSE:CURV) Trading 5.5% Higher – Still a Buy?

Torrid Holdings Inc. (NYSE:CURV)’s share price traded up 5.5% during mid-day trading on Wednesday . The company traded as high as $5.72 and last traded at $5.91. 21,048 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 341,965 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CURV. The Goldman Sachs Group boosted their price target on Torrid from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Bank of America initiated coverage on Torrid in a report on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. Telsey Advisory Group raised their price target on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Finally, Morgan Stanley boosted their price objective on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Torrid Price Performance

The firm has a market capitalization of $575.64 million, a PE ratio of 36.63, a P/E/G ratio of 1.03 and a beta of 1.99. The company has a 50-day moving average price of $6.10 and a 200-day moving average price of $4.93.

Torrid (NYSE:CURV) last released its earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. On average, research analysts predict that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several large investors have recently added to or reduced their stakes in CURV. Two Sigma Advisers LP acquired a new position in shares of Torrid during the 4th quarter valued at about $80,000. State of Wyoming acquired a new position in Torrid during the fourth quarter worth approximately $570,000. Shay Capital LLC raised its stake in Torrid by 140.2% during the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock worth $2,505,000 after purchasing an additional 279,521 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Torrid in the 4th quarter valued at $14,240,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Torrid by 55.9% in the 4th 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. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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.