Torrid (NYSE:CURV) Sees Large Volume Increase – Still a Buy?

Torrid Holdings Inc. (NYSE:CURV) saw an uptick in trading volume on Wednesday . 932,021 shares were traded during trading, an increase of 211% from the previous session’s volume of 299,539 shares.The stock last traded at $6.27 and had previously closed at $6.68.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Telsey Advisory Group lowered their price target on Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, December 4th. Bank of America began coverage on shares of Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. Finally, Morgan Stanley increased their price target on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

Torrid Stock Performance

The stock has a market capitalization of $675.49 million, a P/E ratio of 42.99, a PEG ratio of 2.07 and a beta of 1.96. The firm has a fifty day moving average price of $5.32 and a two-hundred day moving average price of $5.25.

Torrid (NYSE:CURV) last announced its earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. On average, research analysts anticipate that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings 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 acquiring an additional 13,584 shares during the period. JPMorgan Chase & Co. lifted its holdings in Torrid by 125.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,776 shares of the company’s stock worth $82,000 after purchasing an additional 11,551 shares in the last quarter. Rhumbline Advisers boosted its stake in Torrid by 10.9% in the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company’s stock worth $90,000 after purchasing an additional 1,685 shares during the period. Maven Securities LTD purchased a new stake in Torrid during the 3rd quarter valued at approximately $98,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Torrid during the third quarter valued at approximately $104,000. 81.82% of the stock is currently 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.