Insider Selling: Culp Major Shareholder Unloads 5,900 Shares of Stock (CFI)
Culp (NYSE:CFI) major shareholder Robert Culp III unloaded 5,900 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $19.00, for a total value of $112,100.00. Following the completion of the transaction, the insider now directly owns 114,738 shares of the company’s stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on CFI shares. 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. 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 2.52% on Thursday, hitting $18.53. The stock had a trading volume of 5,219 shares. 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 $18.99 and a 200-day moving average of $17.40. The company has a market cap of $226.8 million and a price-to-earnings ratio of 13.09.
Culp (NYSE:CFI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the 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 in the previous 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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