Torrid Holdings Inc. (NYSE:CURV) Receives Consensus Recommendation of “Reduce” from Brokerages

Torrid Holdings Inc. (NYSE:CURV) has received a consensus recommendation of “Reduce” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $1.8125.

A number of analysts have recently commented on the stock. Morgan Stanley reissued an “equal weight” rating and set a $1.80 target price on shares of Torrid in a research note on Monday, July 6th. Bank of America raised their price target on shares of Torrid from $2.25 to $2.70 and gave the company a “buy” rating in a research note on Friday, September 4th. Zacks Research cut Torrid from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Torrid in a research note on Friday, July 17th. Finally, BTIG Research reissued a “neutral” rating on shares of Torrid in a report on Friday, June 5th.

Torrid Stock Performance

Torrid stock opened at $2.24 on Friday. The stock has a market capitalization of $223.12 million, a P/E ratio of -24.91 and a beta of 0.84. The company’s fifty day moving average price is $2.29 and its 200 day moving average price is $1.86. Torrid has a 1 year low of $0.94 and a 1 year high of $2.86.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The company had revenue of $231.73 million for the quarter, compared to analyst estimates of $237.24 million. Sell-side analysts predict that Torrid will post -0.04 EPS for the current year.

Institutional Trading of Torrid

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Torrid during the 2nd quarter worth $3,585,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Torrid during the first quarter worth $3,560,000. SG Americas Securities LLC acquired a new stake in shares of Torrid in the first quarter valued at about $3,387,000. Rhumbline Advisers raised its position in shares of Torrid by 30.4% in the third quarter. Rhumbline Advisers now owns 35,384 shares of the company’s stock valued at $62,000 after buying an additional 8,250 shares during the last quarter. Finally, Jain Global LLC purchased a new position in shares of Torrid in the fourth quarter worth about $55,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Company Profile

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion?forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall?based store footprint to become a multichannel business.