Torrid (NYSE:CURV – Get Rating) had its target price lowered by Telsey Advisory Group from $8.00 to $7.00 in a research report report published on Thursday morning, MarketBeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock. Telsey Advisory Group also issued estimates for Torrid's Q4 2023 earnings at $0.09 EPS, Q1 2024 earnings at $0.26 EPS and Q4 2024 earnings at $0.14 EPS.
CURV has been the topic of a number of other reports. Cowen downgraded shares of Torrid from an outperform rating to a market perform rating in a research note on Friday, July 15th. Morgan Stanley decreased their price target on shares of Torrid from $11.00 to $7.00 and set an equal weight rating on the stock in a research note on Wednesday, June 8th. Cowen downgraded shares of Torrid from an outperform rating to a market perform rating and decreased their price target for the stock from $11.00 to $7.00 in a research note on Friday, July 15th. Robert W. Baird cut their target price on shares of Torrid from $9.00 to $7.00 and set an outperform rating on the stock in a report on Thursday, August 4th. Finally, The Goldman Sachs Group cut their price target on shares of Torrid from $5.50 to $4.00 and set a neutral rating on the stock in a report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $8.67.
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Torrid Trading Up 14.4 %
Shares of Torrid stock opened at $6.50 on Thursday. Torrid has a 12-month low of $3.70 and a 12-month high of $24.82. The company has a market cap of $673.88 million, a price-to-earnings ratio of -21.67, a PEG ratio of 2.37 and a beta of -0.35. The company's 50-day moving average price is $5.30 and its 200-day moving average price is $5.87.
Torrid (NYSE:CURV – Get Rating) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.02). Torrid had a negative return on equity of 34.86% and a negative net
margin of 2.70%. The firm had revenue of $340.88 million during the quarter, compared to analysts' expectations of $338.74 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company's quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Torrid will post 0.68 earnings per share for the current year.
Hedge Funds Weigh In On Torrid
Several large investors have recently modified their holdings of CURV. Rockefeller Capital Management L.P. raised its position in shares of Torrid by 706.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 287,516 shares of the company's stock worth $2,845,000 after purchasing an additional 251,879 shares during the last quarter. Sycamore Partners Management L.P. purchased a new position in Torrid in the 4th quarter worth about $813,638,000. Alpha Paradigm Partners LLC purchased a new position in Torrid in the 4th quarter worth about $601,000. Deep Field Asset Management LLC purchased a new position in Torrid in the 4th quarter worth about $3,804,000. Finally, KCL Capital L.P. purchased a new position in Torrid in the 4th quarter worth about $395,000. Hedge funds and other institutional investors own 85.20% of the company's stock.
About Torrid
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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 and Torrid Curve 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.
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