Torrid (NYSE:CURV) Releases Earnings Results, Beats Estimates By $0.08 EPS

Torrid (NYSE:CURV) announced its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08, FiscalAI reports. The firm had revenue of $231.73 million during the quarter, compared to analyst estimates of $237.24 million.

Torrid Trading Down 2.2%

Shares of NYSE:CURV traded down $0.05 during trading on Thursday, hitting $2.22. 807,394 shares of the company were exchanged, compared to its average volume of 571,348. The stock has a market cap of $220.93 million, a price-to-earnings ratio of -18.50 and a beta of 0.84. Torrid has a fifty-two week low of $0.94 and a fifty-two week high of $2.86. The firm has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $1.80.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CURV. Zacks Research downgraded Torrid from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Torrid in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Torrid from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Morgan Stanley restated an “equal weight” rating and set a $1.80 target price on shares of Torrid in a report on Monday, July 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of Torrid in a research note on Friday, June 5th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Torrid currently has an average rating of “Reduce” and a consensus target price of $1.64.

Hedge Funds Weigh In On Torrid

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC increased its position in Torrid by 47.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 155,900 shares of the company’s stock worth $153,000 after buying an additional 50,000 shares during the last quarter. Fund 1 Investments LLC boosted its stake in shares of Torrid by 0.9% during the 4th quarter. Fund 1 Investments LLC now owns 9,904,856 shares of the company’s stock worth $9,691,000 after acquiring an additional 90,000 shares during the period. Abel Hall LLC bought a new position in shares of Torrid during the 4th quarter worth approximately $49,000. Jain Global LLC acquired a new position in shares of Torrid during the 4th quarter worth approximately $55,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Torrid by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 37,834 shares of the company’s stock worth $37,000 after acquiring an additional 11,962 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

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.