Torrid (NYSE:CURV) Trading 4.9% Higher – Time to Buy?

Torrid Holdings Inc. (NYSE:CURV) shares rose 4.9% on Friday . The stock traded as high as $7.06 and last traded at $7.04. Approximately 265,255 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 284,075 shares. The stock had previously closed at $6.71.

Analyst Ratings Changes

CURV has been the topic of a number of analyst reports. Telsey Advisory Group lowered their target price on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. Bank of America started coverage on Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective on the stock. The Goldman Sachs Group cut their target price on Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Finally, Morgan Stanley upped their price target on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.00.

Torrid Stock Performance

The company has a market cap of $741.70 million, a P/E ratio of 47.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.91. The business has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $5.29.

Torrid (NYSE:CURV) last issued its earnings results on Tuesday, December 3rd. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. As a group, research analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Torrid

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in Torrid by 10.9% in the fourth quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock worth $90,000 after purchasing an additional 1,685 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Torrid by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after acquiring an additional 6,968 shares during the period. JPMorgan Chase & Co. boosted its stake in Torrid by 125.2% during the third quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock worth $82,000 after acquiring an additional 11,551 shares in the last quarter. Barclays PLC grew its holdings in Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after purchasing an additional 13,584 shares during the period. Finally, Maven Securities LTD bought a new position in shares of Torrid during the third quarter valued at approximately $98,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Torrid Company Profile

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.