Torrid (NYSE:CURV) Shares Gap Down to $6.72

Torrid Holdings Inc. (NYSE:CURV) shares gapped down before the market opened on Thursday . The stock had previously closed at $6.72, but opened at $6.54. Torrid shares last traded at $6.54, with a volume of 1,571 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a report on Monday, April 1st. Telsey Advisory Group lifted their price objective on shares of Torrid from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Torrid currently has a consensus rating of “Hold” and an average price target of $4.79.

Torrid Trading Up 4.8 %

The stock’s fifty day moving average is $5.79 and its two-hundred day moving average is $5.23. The company has a market capitalization of $729.41 million, a PE ratio of 63.55 and a beta of 2.02.

Torrid (NYSE:CURV) last issued its quarterly earnings results on Wednesday, June 12th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $279.77 million for the quarter, compared to the consensus estimate of $280.15 million. Torrid had a net margin of 1.05% and a negative return on equity of 5.79%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, analysts anticipate that Torrid Holdings Inc. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently added to or reduced their stakes in CURV. Nisa Investment Advisors LLC purchased a new stake in Torrid during the fourth quarter valued at about $62,000. Great Lakes Advisors LLC purchased a new stake in Torrid during the fourth quarter valued at about $93,000. Fund 1 Investments LLC lifted its holdings in Torrid by 493.6% during the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after purchasing an additional 166,841 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Torrid by 145.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after purchasing an additional 50,466 shares during the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

About Torrid

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.