Torrid (NYSE:CURV) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Torrid (NYSE:CURV) had its price objective lifted by The Goldman Sachs Group from $4.50 to $5.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

CURV has been the topic of a number of other research reports. Morgan Stanley raised their price objective on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Tuesday, January 21st. Bank of America started coverage on Torrid in a research note on Friday, December 6th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Telsey Advisory Group raised their target price on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.

Torrid Price Performance

Shares of Torrid stock opened at $5.76 on Friday. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The business’s fifty day moving average price is $6.10 and its two-hundred day moving average price is $4.96. The company has a market capitalization of $603.09 million, a P/E ratio of 38.38, a PEG ratio of 1.03 and a beta of 1.99.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $275.60 million for the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) earnings per share. On average, research analysts expect that Torrid will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of Torrid by 150.7% in the 4th 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 during the last quarter. Corebridge Financial Inc. increased its stake in Torrid by 53.6% in the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock worth $53,000 after purchasing an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Torrid by 55.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company’s stock worth $59,000 after buying an additional 4,013 shares during the period. Barclays PLC lifted its stake in Torrid by 354.5% during the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after buying an additional 13,584 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in shares of Torrid in the fourth quarter worth about $80,000. Institutional investors own 81.82% of the company’s stock.

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.