Torrid (NYSE:CURV) Trading 10% Higher

Torrid Holdings Inc. (NYSE:CURV – Get Rating)’s stock price shot up 10% during trading on Wednesday . The stock traded as high as $5.47 and last traded at $5.39. 4,705 shares were traded during mid-day trading, a decline of 99% from the average session volume of 564,634 shares. The stock had previously closed at $4.90.

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Torrid from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, March 21st. The Goldman Sachs Group lowered their price target on shares of Torrid from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 21st. Finally, Zacks Investment Research raised shares of Torrid from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.97.

The business’s fifty day moving average price is $6.23 and its 200 day moving average price is $9.53.

Torrid (NYSE:CURV – Get Rating) last posted its quarterly earnings results on Thursday, March 17th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $313.94 million during the quarter, compared to analyst estimates of $302.60 million. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Torrid Holdings Inc. will post 0.99 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Sycamore Partners Management L.P. bought a new stake in Torrid in the 4th quarter valued at $813,638,000. Franklin Resources Inc. bought a new stake in shares of Torrid in the 3rd quarter valued at about $28,145,000. BlackRock Inc. increased its stake in shares of Torrid by 15.8% in the 1st quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock valued at $5,369,000 after acquiring an additional 120,915 shares during the last quarter. FIL Ltd bought a new stake in Torrid during the 3rd quarter worth approximately $13,418,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income bought a new stake in Torrid during the 4th quarter worth approximately $8,487,000. 90.86% of the stock is currently owned by institutional investors.

About Torrid (NYSE:CURV)

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 and Torrid Curve 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.

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