Insider Selling: Culp CEO Unloads 14,633 Shares of Stock (CFI)
Culp (NYSE:CFI) CEO Franklin Saxon unloaded 14,633 shares of Culp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $19.69, for a total value of $288,123.77. Following the transaction, the chief executive officer now directly owns 107,385 shares of the company’s stock, valued at approximately $2,114,411. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Culp (NYSE:CFI) traded up 0.45% on Tuesday, hitting $19.90. 21,751 shares of the company’s stock traded hands. Culp has a 1-year low of $10.32 and a 1-year high of $19.60. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $17.42. The company has a market cap of $243.6 million and a P/E ratio of 13.64.
Culp (NYSE:CFI) last issued its quarterly 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 in the prior year, the company posted $0.34 earnings per share. Analysts expect that Culp will post $1.55 EPS for the current fiscal year.
Separately, analysts at Raymond James raised their price target on shares of Culp 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.
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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