Torrid (NYSE:CURV) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of Torrid (NYSE:CURVFree Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $7.00 price target on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley raised their price target on Torrid from $2.00 to $4.00 and gave the stock an equal weight rating in a report on Friday, December 8th. Telsey Advisory Group raised their price target on Torrid from $2.00 to $5.00 and gave the stock a market perform rating in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $3.70.

Check Out Our Latest Stock Analysis on CURV

Torrid Stock Up 2.0 %

NYSE:CURV opened at $5.10 on Thursday. The business’s 50 day moving average is $5.30 and its two-hundred day moving average is $3.44. Torrid has a 52 week low of $1.21 and a 52 week high of $6.86. The company has a market cap of $530.91 million, a PE ratio of 51.00 and a beta of 2.06.

Torrid (NYSE:CURVGet Free Report) last released its earnings results on Thursday, December 7th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $275.41 million for the quarter, compared to the consensus estimate of $245.81 million. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. Torrid’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. As a group, sell-side analysts expect that Torrid will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Valeria Rico Nikolov sold 25,380 shares of Torrid stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $5.62, for a total value of $142,635.60. Following the transaction, the director now directly owns 51,457 shares in the company, valued at approximately $289,188.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.23% of the company’s stock.

Institutional Trading of Torrid

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its position in Torrid by 85.9% during the first quarter. Barclays PLC now owns 7,292 shares of the company’s stock valued at $32,000 after purchasing an additional 3,369 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Torrid during the first quarter valued at $49,000. JPMorgan Chase & Co. boosted its position in Torrid by 76.7% during the first quarter. JPMorgan Chase & Co. now owns 8,640 shares of the company’s stock valued at $52,000 after purchasing an additional 3,750 shares during the last quarter. American International Group Inc. boosted its position in Torrid by 34.8% during the first quarter. American International Group Inc. now owns 9,147 shares of the company’s stock valued at $55,000 after purchasing an additional 2,362 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Torrid during the second quarter valued at $46,000. Institutional investors and hedge funds own 83.34% 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.

Further Reading

Analyst Recommendations for Torrid (NYSE:CURV)

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