Shares of Culp, Inc. (NYSE:CULP) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers 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 strong buy rating to the company.
Brokerages have set a 1 year consensus price target of $28.00 for the company and are predicting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 244 out of 255 based on the ratings given to related companies.
A number of research analysts recently issued reports on CULP shares. TheStreet downgraded Culp from a “b-” rating to a “c+” rating in a research note on Friday, July 6th. Stifel Nicolaus dropped their price target on Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. Zacks Investment Research downgraded Culp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, ValuEngine downgraded Culp from a “hold” rating to a “sell” rating in a research note on Friday, June 15th.
In related news, Director Fred A. Jackson acquired 5,000 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was bought at an average cost of $25.32 per share, with a total value of $126,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Culp during the 1st quarter worth approximately $26,722,000. Thomson Horstmann & Bryant Inc. acquired a new stake in Culp during the 1st quarter worth approximately $6,618,000. Keeley Teton Advisors LLC acquired a new stake in Culp during the 1st quarter worth approximately $1,719,000. Moors & Cabot Inc. acquired a new stake in Culp during the 1st quarter worth approximately $271,000. Finally, Nuveen Asset Management LLC acquired a new stake in Culp during the 1st quarter worth approximately $10,488,000. 86.18% of the stock is owned by institutional investors.
NYSE:CULP traded up $0.20 during mid-day trading on Friday, reaching $24.65. 22,800 shares of the stock were exchanged, compared to its average volume of 23,204. The company has a market capitalization of $306.17 million, a PE ratio of 16.74 and a beta of 0.11. The company has a quick ratio of 1.82, a current ratio of 3.33 and a debt-to-equity ratio of 0.02. Culp has a 1 year low of $22.80 and a 1 year high of $34.05.
Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $71.47 million for the quarter, compared to the consensus estimate of $71.91 million. Culp had a return on equity of 10.56% and a net margin of 5.34%. sell-side analysts anticipate that Culp will post 1.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.46%. Culp’s dividend payout ratio is presently 24.16%.
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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