Torrid (NYSE:CURV) Stock Price Up 5.5% – Time to Buy?

Torrid Holdings Inc. (NYSE:CURV)’s share price shot up 5.5% on Wednesday . The company traded as high as $5.72 and last traded at $5.91. 21,048 shares were traded during mid-day trading, a decline of 94% from the average session volume of 341,965 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CURV shares. Telsey Advisory Group upped their price target on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, March 21st. Morgan Stanley boosted their target price on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group raised their price target on shares of Torrid from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Bank of America started coverage on shares of Torrid in a research report on Friday, December 6th. They set a “buy” rating and a $5.00 price target on the stock. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Torrid Stock Up 5.2 %

The stock has a 50 day simple moving average of $6.08 and a 200 day simple moving average of $4.94. The company has a market cap of $599.31 million, a price-to-earnings ratio of 38.14, a PEG ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The firm had revenue of $275.60 million for the quarter, compared to analyst estimates of $263.34 million. During the same period in the previous year, the company posted ($0.04) EPS. Torrid’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities research analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CURV. Rhumbline Advisers lifted its holdings in Torrid by 10.9% in the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock worth $90,000 after buying an additional 1,685 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Torrid by 53.6% during the fourth 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Torrid by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after acquiring an additional 4,013 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Torrid by 150.7% in the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company’s stock worth $49,000 after acquiring an additional 5,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Torrid by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after purchasing an additional 6,968 shares during the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

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.