Torrid Holdings Inc. (NYSE:CURV) – Analysts at William Blair dropped their FY2022 earnings per share estimates for Torrid in a research note issued to investors on Monday, January 10th. William Blair analyst D. Carden now anticipates that the company will post earnings of $1.05 per share for the year, down from their previous estimate of $1.13. William Blair also issued estimates for Torrid’s Q4 2022 earnings at $0.03 EPS, Q1 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.09 EPS and FY2024 earnings at $1.04 EPS.
A number of other brokerages have also recently issued reports on CURV. Robert W. Baird lowered their price objective on Torrid from $18.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday. Zacks Investment Research upgraded Torrid from a “sell” rating to a “hold” rating in a research note on Tuesday, December 7th. Telsey Advisory Group lowered their price objective on Torrid from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on Torrid from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Cowen reduced their target price on Torrid from $30.00 to $20.00 and set an “outperform” rating for the company in a report 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Torrid has an average rating of “Buy” and an average target price of $19.83.
Torrid (NYSE:CURV) last released its earnings results on Tuesday, December 7th. The company reported $0.17 EPS for the quarter, missing the Zacks’ 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. The company’s revenue was up 13.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG purchased a new position in shares of Torrid during the third quarter worth about $36,000. FourThought Financial LLC purchased a new position in shares of Torrid during the third quarter worth about $54,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Torrid during the third quarter worth about $67,000. SG Americas Securities LLC purchased a new position in shares of Torrid during the third quarter worth about $105,000. Finally, California State Teachers Retirement System purchased a new position in shares of Torrid during the third quarter worth about $106,000. 14.48% of the stock is 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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