Torrid (NYSE:CURV) Trading 5% Higher – Still a Buy?

Torrid Holdings Inc. (NYSE:CURV) was up 5% on Wednesday . The company traded as high as $5.83 and last traded at $5.86. 10,952 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 334,282 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America assumed coverage on Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 target price on the stock. Morgan Stanley increased their price objective on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group boosted their target price on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, The Goldman Sachs Group raised their price target on shares of Torrid from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.88.

Torrid Trading Down 0.6 %

The stock has a market capitalization of $582.97 million, a PE ratio of 37.10, a P/E/G ratio of 1.03 and a beta of 1.99. The stock has a 50 day moving average price of $6.10 and a 200-day moving average price of $4.97.

Torrid (NYSE:CURV) last announced its earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The business had revenue of $275.60 million for the quarter, compared to analysts’ expectations of $263.34 million. During the same period last year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts forecast that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Institutional Trading of Torrid

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its position in shares of Torrid by 87.3% during the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock valued at $425,000 after acquiring an additional 50,439 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after purchasing an additional 6,968 shares during the period. Verition Fund Management LLC purchased a new position in Torrid during the third quarter valued at $166,000. Centiva Capital LP purchased a new stake in Torrid in the third quarter worth about $3,930,000. Finally, Maven Securities LTD purchased a new stake in Torrid in the third quarter worth about $98,000. 81.82% of the stock is 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.