Culp, Inc. (NYSE:CULP) Receives Average Rating of “Hold” from Brokerages

Shares of Culp, Inc. (NYSE:CULP) have been given an average broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has assigned a buy rating to the company. Culp’s rating score has declined by 66.7% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a 12-month consensus price objective of $14.50 for the company and are forecasting that the company will post $0.13 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 112 out of 255 based on the ratings given to related companies.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Culp from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. ValuEngine cut shares of Culp from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus downgraded shares of Culp from a “buy” rating to a “hold” rating and lowered their price objective for the company from $20.00 to $11.00 in a research report on Wednesday, February 19th.

Institutional investors have recently bought and sold shares of the company. Keeley Teton Advisors LLC boosted its stake in Culp by 186.8% in the third quarter. Keeley Teton Advisors LLC now owns 277,630 shares of the textile maker’s stock valued at $4,525,000 after buying an additional 180,840 shares in the last quarter. Foundry Partners LLC raised its stake in Culp by 243.5% during the fourth quarter. Foundry Partners LLC now owns 138,020 shares of the textile maker’s stock worth $1,880,000 after acquiring an additional 97,845 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Culp by 292.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 109,537 shares of the textile maker’s stock worth $1,492,000 after acquiring an additional 81,631 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Culp by 4.4% in the fourth quarter. Standard Life Aberdeen plc now owns 1,354,342 shares of the textile maker’s stock worth $18,466,000 after acquiring an additional 56,990 shares during the last quarter. Finally, Fairfax Financial Holdings Ltd Can bought a new position in shares of Culp in the fourth quarter worth about $736,000. 82.57% of the stock is owned by institutional investors.

Shares of NYSE CULP traded down $0.12 during mid-day trading on Friday, reaching $9.89. The company had a trading volume of 60,277 shares, compared to its average volume of 46,155. The firm has a market cap of $127.35 million, a price-to-earnings ratio of 22.48 and a beta of 0.57. The business’s 50-day simple moving average is $12.41 and its 200 day simple moving average is $14.58. Culp has a one year low of $9.88 and a one year high of $21.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 3.19.

Culp (NYSE:CULP) last announced its quarterly earnings data on Thursday, December 5th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $72.62 million for the quarter, compared to the consensus estimate of $77.33 million. Culp had a net margin of 1.83% and a return on equity of 3.38%. On average, sell-side analysts anticipate that Culp will post 0.59 EPS for the current year.

About Culp

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.

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