Insider Selling: Culp Major Shareholder Unloads 5,000 Shares of Stock (CFI)
Culp (NYSE:CFI) major shareholder R Scott Asen unloaded 5,000 shares of the company’s stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $18.20, for a total transaction of $91,000.00. Following the completion of the transaction, the insider now directly owns 1,026,378 shares in the company. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on CFI. 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 0.58% during mid-day trading on Wednesday, hitting $18.87. 16,176 shares of the company’s stock traded hands. Culp has a 52-week low of $11.61 and a 52-week high of $19.60. The stock has a 50-day moving average of $18.9 and a 200-day moving average of $17.39. The company has a market cap of $231.0 million and a price-to-earnings ratio of 13.07.
Culp (NYSE:CFI) last released its earnings data on Wednesday, August 28th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters 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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