Torrid Holdings Inc. (NYSE:CURV) – Research analysts at Jefferies Financial Group cut their FY2022 EPS estimates for shares of Torrid in a note issued to investors on Tuesday, January 11th. Jefferies Financial Group analyst C. Tarlowe now anticipates that the company will post earnings per share of $1.06 for the year, down from their prior forecast of $1.16. Jefferies Financial Group also issued estimates for Torrid’s Q1 2023 earnings at $0.23 EPS, Q4 2023 earnings at $0.15 EPS and FY2023 earnings at $1.00 EPS.
A number of other research firms also recently commented on CURV. Zacks Investment Research upgraded Torrid from a “sell” rating to a “hold” rating in a research note on Tuesday, December 7th. Cowen decreased their price target on Torrid from $30.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, December 9th. The analyst said its 3Q experienced sales pressure on supply-chain related inventory delays and believes its multiple is likely to contract in near-term. He noted they narrowed FY2021 outlook and its 4Q guidance is lower versus the Street on inflationary headwinds including air freight and potential inventory delays. Morgan Stanley cut their target price on shares of Torrid from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, December 27th. Telsey Advisory Group cut their target price on shares of Torrid from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Robert W. Baird cut their target price on shares of Torrid from $18.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $19.83.
Torrid (NYSE:CURV) last announced its earnings results on Tuesday, December 7th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $306.24 million during the quarter, compared to the consensus estimate of $311.36 million. Torrid’s quarterly revenue was up 13.4% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Torrid during the third quarter valued at approximately $1,877,000. FIL Ltd bought a new stake in shares of Torrid during the third quarter valued at approximately $13,418,000. Citigroup Inc. bought a new stake in shares of Torrid during the third quarter valued at approximately $573,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Torrid during the third quarter valued at approximately $157,000. Finally, Cinctive Capital Management LP bought a new stake in shares of Torrid during the third quarter valued at approximately $1,124,000. 14.48% of the stock is currently owned by institutional investors.
Torrid Holdings Inc focuses on operating as a holding company for Torrid Parent Inc that 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, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.
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