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

Torrid Holdings Inc. (NYSE:CURV) has earned an average rating of “Reduce” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $1.44.

CURV has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Torrid in a research note on Monday, April 20th. Wall Street Zen raised Torrid from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. BTIG Research reissued a “neutral” rating on shares of Torrid in a research note on Friday, June 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Torrid in a research note on Monday, March 16th. Finally, Zacks Research lowered Torrid from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th.

Torrid Stock Down 0.3%

CURV opened at $1.98 on Monday. The firm has a market cap of $196.55 million, a P/E ratio of -16.46 and a beta of 0.93. Torrid has a 52 week low of $0.94 and a 52 week high of $3.29. The business’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $1.43.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Thursday, June 4th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The company had revenue of $245.80 million for the quarter, compared to analyst estimates of $239.88 million. As a group, equities analysts expect that Torrid will post -0.02 EPS for the current fiscal year.

Insider Transactions at Torrid

In other news, insider Ashlee Wheeler sold 30,013 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $1.98, for a total transaction of $59,425.74. Following the completion of the transaction, the insider owned 205,856 shares of the company’s stock, valued at $407,594.88. This represents a 12.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Paula Dempsey sold 42,785 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $2.06, for a total transaction of $88,137.10. Following the transaction, the chief financial officer directly owned 227,923 shares of the company’s stock, valued at approximately $469,521.38. This represents a 15.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake 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 valued at $37,000 after acquiring an additional 11,962 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Torrid by 985.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,265 shares of the company’s stock valued at $42,000 after acquiring an additional 22,030 shares during the last quarter. Abel Hall LLC acquired a new position in shares of Torrid during the 4th quarter valued at about $49,000. Royal Bank of Canada raised its holdings in shares of Torrid by 134.1% in the 1st quarter. Royal Bank of Canada now owns 28,138 shares of the company’s stock worth $50,000 after purchasing an additional 16,119 shares during the period. Finally, Jain Global LLC purchased a new position in shares of Torrid in the 4th quarter worth about $55,000. Institutional investors and hedge funds 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.