Torrid (NYSE:CURV) Trading Up 7.4% After Strong Earnings

Shares of Torrid Holdings Inc. (NYSE:CURVGet Free Report) were up 7.4% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $5.06 and last traded at $4.93. Approximately 22,280 shares traded hands during trading, a decline of 83% from the average daily volume of 127,808 shares. The stock had previously closed at $4.59.

The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. The business had revenue of $293.54 million during the quarter, compared to analyst estimates of $276.20 million. Torrid had a negative return on equity of 5.41% and a net margin of 1.01%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS.

Wall Street Analyst Weigh In

Several analysts have recently commented on CURV shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 target price on shares of Torrid in a research report on Monday, March 25th. Morgan Stanley raised their target price on Torrid from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Friday, December 8th. Finally, B. Riley started coverage on Torrid in a research report on Thursday, February 8th. They issued a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.80.

Read Our Latest Research Report on CURV

Insider Buying and Selling

In related news, Director Valeria Rico Nikolov sold 25,380 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $5.62, for a total transaction of $142,635.60. Following the completion of the sale, the director now directly owns 51,457 shares in the company, valued at $289,188.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Torrid

Several institutional investors have recently bought and sold shares of CURV. JPMorgan Chase & Co. raised its holdings 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 buying an additional 3,750 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Torrid by 25.1% during the first quarter. Bank of New York Mellon Corp now owns 45,557 shares of the company’s stock valued at $276,000 after buying an additional 9,146 shares in the last quarter. Citigroup Inc. raised its holdings in Torrid by 2,270.7% during the first quarter. Citigroup Inc. now owns 77,284 shares of the company’s stock valued at $469,000 after buying an additional 74,024 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Torrid by 64.7% in the first quarter. Rhumbline Advisers now owns 16,963 shares of the company’s stock worth $103,000 after purchasing an additional 6,661 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Torrid by 15.8% in the first quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock worth $5,369,000 after purchasing an additional 120,915 shares during the period. 81.82% of the stock is currently owned by institutional investors.

Torrid Price Performance

The business has a 50 day moving average price of $4.68 and a 200 day moving average price of $3.94. The firm has a market capitalization of $508.01 million, a P/E ratio of 48.80 and a beta of 2.01.

Torrid Company Profile

(Get Free Report)

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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