Torrid (NYSE:CURV) Stock Price Down 5% – Here’s Why

Torrid Holdings Inc. (NYSE:CURV)’s share price dropped 5% during trading on Thursday . The company traded as low as $5.64 and last traded at $5.56. Approximately 82,635 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 356,385 shares. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CURV. Telsey Advisory Group boosted their price objective on shares of Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, March 21st. The Goldman Sachs Group raised their price target on shares of Torrid from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Morgan Stanley increased their price objective on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.

Torrid Stock Down 3.9 %

The company’s 50-day moving average is $5.64 and its 200 day moving average is $5.00. The company has a market cap of $590.12 million, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 1.03 and a beta of 1.96.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The company had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. Torrid’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Analysts predict that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in shares of Torrid during the fourth quarter worth about $14,240,000. Shay Capital LLC boosted its holdings in shares of Torrid by 140.2% in the 4th quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock valued at $2,505,000 after buying an additional 279,521 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Torrid by 103.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after acquiring an additional 222,504 shares in the last quarter. Bank of America Corp DE boosted its stake in Torrid by 4,794.2% in the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock valued at $2,215,000 after acquiring an additional 414,942 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Torrid by 33.8% during the fourth quarter. Geode Capital Management LLC now owns 347,808 shares of the company’s stock worth $1,819,000 after purchasing an additional 87,879 shares during the last quarter. Institutional investors and hedge funds 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.