Torrid (NYSE:CURV) Shares Gap Down – What’s Next?

Torrid Holdings Inc. (NYSE:CURV)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $5.34, but opened at $4.88. Torrid shares last traded at $5.06, with a volume of 96,280 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CURV. The Goldman Sachs Group lowered shares of Torrid from a “neutral” rating to a “sell” rating and set a $4.00 target price for the company. in a report on Tuesday. Telsey Advisory Group lifted their target price on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday, March 21st. Finally, Morgan Stanley increased their price target on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.75.

Torrid Stock Performance

The stock has a market cap of $541.43 million, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.96. The company has a 50 day moving average of $5.59 and a 200-day moving average of $5.06.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CURV. Arrowstreet Capital Limited Partnership grew 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 buying an additional 222,504 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Torrid by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,722 shares of the company’s stock worth $532,000 after purchasing an additional 13,781 shares during the last quarter. Geode Capital Management LLC grew its position in Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after buying an additional 26,703 shares during the last quarter. Barclays PLC raised its position in Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after buying an additional 13,584 shares during the last quarter. Finally, Corebridge Financial Inc. lifted its stake in shares of Torrid by 53.6% in the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock worth $53,000 after acquiring an additional 3,509 shares during the period. 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.