Telsey Advisory Group Forecasts Strong Price Appreciation for Torrid (NYSE:CURV) Stock

Torrid (NYSE:CURV) had its target price raised by investment analysts at Telsey Advisory Group from $5.00 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 7.82% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Bank of America started coverage on shares of Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective on the stock. Morgan Stanley lifted their price target on Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their price objective on Torrid from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.88.

Torrid Stock Performance

Shares of CURV stock opened at $5.57 on Friday. Torrid has a 1 year low of $2.18 and a 1 year high of $9.14. The firm has a market capitalization of $582.97 million, a PE ratio of 37.10, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99. The stock has a fifty day moving average of $6.10 and a two-hundred day moving average of $4.97.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $275.60 million during the quarter, compared to the consensus estimate of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Equities research analysts predict that Torrid will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Torrid by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock valued at $346,000 after purchasing an additional 6,968 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Torrid by 11.4% in the third quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock worth $1,022,000 after buying an additional 26,703 shares during the period. Barclays PLC increased its position in shares of Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after acquiring an additional 13,584 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Torrid by 125.2% during the third quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock valued at $82,000 after acquiring an additional 11,551 shares during the period. Finally, Bravias Capital Group LLC acquired a new position in Torrid in the 4th quarter worth approximately $137,000. Institutional investors own 81.82% of the company’s stock.

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.