Torrid (NYSE:CURV) Shares Down 8.9%

Torrid Holdings Inc. (NYSE:CURV) was down 8.9% on Monday . The stock traded as low as $7.24 and last traded at $7.24. Approximately 46,928 shares changed hands during trading, a decline of 58% from the average daily volume of 110,847 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

Several equities analysts have weighed in on CURV shares. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Thursday. The Goldman Sachs Group raised their price target on Torrid from $2.95 to $5.75 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Telsey Advisory Group lifted their target price on Torrid from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Torrid presently has an average rating of “Hold” and a consensus price target of $4.96.

Torrid Stock Performance

The stock has a fifty day moving average of $6.99 and a 200-day moving average of $5.62. The company has a market cap of $809.76 million, a PE ratio of 72.28 and a beta of 2.04.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Wednesday, June 12th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. The company had revenue of $279.77 million during the quarter, compared to analysts’ expectations of $280.15 million. During the same quarter in the previous year, the business earned $0.11 EPS. Torrid’s revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Torrid Holdings Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in shares of Torrid during the fourth quarter valued at $62,000. Great Lakes Advisors LLC bought a new position in Torrid during the 4th quarter worth about $93,000. Fund 1 Investments LLC increased its position in Torrid by 493.6% during the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after purchasing an additional 166,841 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Torrid by 145.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after purchasing an additional 50,466 shares in the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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.