Culp CEO Franklin Saxon Unloads 1,824 Shares (CFI)
Culp (NYSE:CFI) CEO Franklin Saxon sold 1,824 shares of the company’s stock on the open market in a transaction dated Thursday, September 12th. The stock was sold at an average price of $18.82, for a total value of $34,327.68. Following the transaction, the chief executive officer now directly owns 160,850 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CFI has been the subject of a number of recent research reports. 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 0.70% on Friday, hitting $18.50. The stock had a trading volume of 8,414 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 $18.98 and a 200-day moving average of $17.41. The company has a market cap of $226.5 million and a P/E ratio of 12.83.
Culp (NYSE:CFI) last posted its quarterly earnings results 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 in the prior year, the company posted $0.34 earnings per share. On average, analysts predict that Culp will post $1.55 earnings per share 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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