Culp (CULP) Lifted to Buy at ValuEngine

Culp (NYSE:CULP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

CULP has been the subject of several other research reports. Zacks Investment Research cut Culp from a “hold” rating to a “strong sell” rating in a report on Tuesday. Stifel Nicolaus lowered their price target on Culp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 31st.

CULP traded up $0.50 during midday trading on Thursday, hitting $20.69. The company’s stock had a trading volume of 34,700 shares, compared to its average volume of 24,591. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.33 and a quick ratio of 1.82. The stock has a market capitalization of $252.82 million, a price-to-earnings ratio of 13.89 and a beta of 0.14. Culp has a 52-week low of $19.91 and a 52-week high of $33.90.

Culp (NYSE:CULP) last posted its quarterly earnings results on Thursday, November 29th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $77.01 million during the quarter, compared to analysts’ expectations of $76.32 million. Culp had a net margin of 5.07% and a return on equity of 9.53%. Equities research analysts anticipate that Culp will post 0.99 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CULP. MetLife Investment Advisors LLC grew its holdings in Culp by 68.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,924 shares of the textile maker’s stock valued at $192,000 after buying an additional 3,227 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Culp during the 2nd quarter worth about $234,000. Wedge Capital Management L L P NC grew its holdings in shares of Culp by 38.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 30,431 shares of the textile maker’s stock worth $736,000 after purchasing an additional 8,482 shares during the period. Keybank National Association OH grew its holdings in shares of Culp by 16.7% during the 2nd quarter. Keybank National Association OH now owns 30,275 shares of the textile maker’s stock worth $743,000 after purchasing an additional 4,325 shares during the period. Finally, Martingale Asset Management L P grew its holdings in shares of Culp by 20.9% during the 3rd quarter. Martingale Asset Management L P now owns 49,824 shares of the textile maker’s stock worth $1,206,000 after purchasing an additional 8,610 shares during the period. Institutional investors own 86.81% of the company’s stock.

Culp Company Profile

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

Further Reading: What does cost of debt say about a company’s financial health?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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