Torrid (NYSE:CURV) Trading Down 9.3% – Here’s Why

Torrid Holdings Inc. (NYSE:CURV) shares fell 9.3% on Tuesday . The company traded as low as $5.28 and last traded at $5.24. 98,869 shares changed hands during trading, a decline of 68% from the average session volume of 311,684 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CURV. Telsey Advisory Group dropped their target price on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Torrid from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Bank of America initiated coverage on shares of Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Morgan Stanley lifted their price target on shares of Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Torrid presently has an average rating of “Hold” and a consensus target price of $4.63.

Torrid Price Performance

The stock’s fifty day moving average is $6.14 and its 200-day moving average is $5.02. The stock has a market capitalization of $534.78 million, a PE ratio of 34.03, a P/E/G ratio of 1.03 and a beta of 1.99.

Institutional Investors Weigh In On Torrid

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after acquiring an additional 6,968 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Torrid by 11.4% during the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after buying an additional 26,703 shares during the period. Barclays PLC raised its holdings in shares of Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after purchasing an additional 13,584 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Torrid by 87.3% during the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after buying an additional 50,439 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 purchasing an additional 11,551 shares during the last quarter. 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.