Torrid (NYSE:CURV) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Posted by on Jun 8th, 2022

Torrid (NYSE:CURV – Get Rating) released its earnings results on Tuesday. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03, Briefing.com reports. The business had revenue of $328.40 million for the quarter, compared to analysts’ expectations of $303.97 million. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Torrid updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Torrid stock opened at $5.81 on Wednesday. The stock’s 50 day moving average price is $5.87 and its 200 day moving average price is $8.60. Torrid has a one year low of $4.86 and a one year high of $33.19.

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Torrid by 25.1% in the 1st quarter. Bank of New York Mellon Corp now owns 45,557 shares of the company’s stock valued at $276,000 after acquiring an additional 9,146 shares during the last quarter. Quantbot Technologies LP boosted its position in Torrid by 37,374.0% during the 1st quarter. Quantbot Technologies LP now owns 37,474 shares of the company’s stock worth $227,000 after acquiring an additional 37,374 shares during the period. Sei Investments Co. acquired a new position in Torrid during the 4th quarter worth $177,000. Wells Fargo & Company MN boosted its position in Torrid by 23,069.6% during the 4th quarter. Wells Fargo & Company MN now owns 15,987 shares of the company’s stock worth $158,000 after acquiring an additional 15,918 shares during the period. Finally, SG3 Management LLC acquired a new stake in shares of Torrid in the fourth quarter valued at $148,000. Institutional investors own 90.86% of the company’s stock.

Several research analysts have recently weighed in on CURV shares. Zacks Investment Research raised shares of Torrid from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Monday, May 23rd. The Goldman Sachs Group reduced their price target on shares of Torrid from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 21st. Finally, Morgan Stanley cut their target price on shares of Torrid from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, March 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $17.97.

About Torrid (Get Rating)

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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