Torrid (NYSE:CURV) Coverage Initiated by Analysts at BTIG Research

BTIG Research began coverage on shares of Torrid (NYSE:CURV) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued a neutral rating on the stock.

CURV has been the topic of several other reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Torrid in a report on Monday, June 2nd. The Goldman Sachs Group downgraded Torrid from a “neutral” rating to a “sell” rating and set a $4.00 price objective on the stock. in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.75.

Torrid Price Performance

CURV stock opened at $5.10 on Thursday. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The business has a 50 day simple moving average of $5.45 and a two-hundred day simple moving average of $5.51. The company has a market capitalization of $535.61 million, a price-to-earnings ratio of 34.00, a PEG ratio of 1.03 and a beta of 1.78.

Torrid (NYSE:CURV) last posted its earnings results on Thursday, June 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $265.97 million during the quarter, compared to analysts’ expectations of $270.95 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. Sell-side analysts anticipate that Torrid will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently modified their holdings of CURV. Wells Fargo & Company MN raised its holdings in Torrid by 150.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock valued at $49,000 after buying an additional 5,678 shares during the period. Corebridge Financial Inc. increased its position in Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after acquiring an additional 3,509 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Torrid by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock valued at $59,000 after acquiring an additional 4,013 shares during the period. Deutsche Bank AG bought a new stake in shares of Torrid in the 1st quarter worth about $68,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Torrid during the 4th quarter worth about $80,000. 81.82% of the stock is owned by institutional investors.

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.