Torrid (NYSE:CURV) Price Target Raised to $5.00

Torrid (NYSE:CURV) had its price objective lifted by stock analysts at The Goldman Sachs Group from $4.50 to $5.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 18.10% from the stock’s current price.

A number of other analysts have also issued reports on CURV. Bank of America began coverage on Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 price target on the stock. Morgan Stanley upped their price target 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. Finally, Telsey Advisory Group boosted their price objective on shares of Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.00.

Torrid Price Performance

Shares of CURV stock traded up $0.58 during trading hours on Friday, reaching $6.11. 230,056 shares of the company’s stock were exchanged, compared to its average volume of 303,020. The company’s 50 day moving average is $6.10 and its two-hundred day moving average is $4.97. The company has a market cap of $639.54 million, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. Torrid has a 1 year low of $2.18 and a 1 year high of $9.14.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. As a group, analysts predict that Torrid will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Torrid by 150.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock valued at $49,000 after buying an additional 5,678 shares during the last quarter. Corebridge Financial Inc. boosted its position in shares of Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock worth $53,000 after buying an additional 3,509 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Torrid by 55.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after buying an additional 4,013 shares in the last quarter. Barclays PLC raised its stake in Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after acquiring an additional 13,584 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Torrid during the 4th quarter worth $80,000. 81.82% of the stock is owned by institutional investors and hedge funds.

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.