Culp CEO Sells $136,950 in Stock (CFI)
Culp (NYSE:CFI) CEO Franklin Saxon sold 7,500 shares of Culp stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.26, for a total transaction of $136,950.00. Following the completion of the transaction, the chief executive officer now directly owns 162,674 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Raymond James raised their price target on shares of Culp (NYSE:CFI) from $21.00 to $22.00 in a research note to investors on Thursday, August 29th. They now have a “strong-buy” rating on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Culp (NYSE:CFI) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 8th.
Shares of Culp (NYSE:CFI) traded down 0.21% during mid-day trading on Wednesday, hitting $18.94. The stock had a trading volume of 15,876 shares. Culp has a 52-week low of $11.61 and a 52-week high of $19.60. The stock’s 50-day moving average is $18.9 and its 200-day moving average is $17.39. The company has a market cap of $231.8 million and a price-to-earnings ratio of 13.07.
Culp (NYSE:CFI) last announced its earnings results on Wednesday, August 28th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.02. The company had revenue of $70.10 million for the quarter, compared to the consensus estimate of $68.80 million. During the same quarter last year, the company posted $0.34 earnings per share. Analysts expect that Culp will post $1.55 EPS for the current fiscal year.
Culp, Inc (NYSE:CFI) manufactures, sources and markets mattress fabrics used for covering mattresses and box springs, and upholstery fabrics primarily for use in production of upholstered furniture (residential and commercial).
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