Culp, Inc. (NYSE:CULP) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokerages have set a 12 month consensus price objective of $28.00 for the company and are anticipating that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 237 out of 255 based on the ratings given to related companies.
CULP has been the subject of several analyst reports. TheStreet lowered shares of Culp from a “b-” rating to a “c+” rating in a report on Friday, July 6th. Stifel Nicolaus lowered their target price on shares of Culp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 31st. Zacks Investment Research lowered shares of Culp from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, ValuEngine lowered shares of Culp from a “hold” rating to a “sell” rating in a report on Friday, June 15th.
CULP stock traded down $0.75 during trading on Thursday, hitting $23.50. 19,400 shares of the company’s stock traded hands, compared to its average volume of 22,980. Culp has a 52 week low of $23.40 and a 52 week high of $34.05. The firm has a market capitalization of $317.52 million, a P/E ratio of 15.94 and a beta of 0.11.
Culp (NYSE:CULP) last released its earnings results on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The firm had revenue of $71.47 million during the quarter, compared to analyst estimates of $71.91 million. Culp had a net margin of 5.34% and a return on equity of 10.73%. research analysts anticipate that Culp will post 1.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.09 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.53%. Culp’s dividend payout ratio (DPR) is presently 24.16%.
In related news, Director Fred A. Jackson purchased 5,000 shares of Culp stock in a transaction that occurred on Friday, June 29th. The shares were bought at an average price of $25.32 per share, with a total value of $126,600.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 11.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CULP. Russell Investments Group Ltd. purchased a new position in Culp during the 1st quarter valued at about $130,000. Citigroup Inc. purchased a new position in Culp during the 1st quarter valued at about $135,000. MetLife Investment Advisors LLC purchased a new position in Culp during the 1st quarter valued at about $143,000. American International Group Inc. purchased a new position in Culp during the 1st quarter valued at about $214,000. Finally, Citadel Advisors LLC purchased a new position in Culp during the 2nd quarter valued at about $234,000. 86.18% of the stock is currently owned by institutional investors.
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.
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