Zacks: Culp, Inc. (NYSE:CULP) Given $38.00 Consensus Target Price by Analysts
Culp, Inc. (NYSE:CULP) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokerages have set a twelve-month consensus price objective of $38.00 for the company and are expecting that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 123 out of 265 based on the ratings given to its competitors.
Separately, ValuEngine cut shares of Culp from a “buy” rating to a “hold” rating in a report on Friday, June 9th.
In related news, CEO Franklin N. Saxon sold 1,284 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $32.50, for a total transaction of $41,730.00. Following the transaction, the chief executive officer now owns 106,052 shares of the company’s stock, valued at $3,446,690. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Robert G. Culp III sold 3,782 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $32.50, for a total transaction of $122,915.00. Following the transaction, the chairman now directly owns 101,924 shares in the company, valued at approximately $3,312,530. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,422 shares of company stock valued at $1,538,069. 13.50% of the stock is currently owned by corporate insiders.
Shares of Culp (NYSE:CULP) traded down 0.31% during trading on Monday, hitting $32.35. 47,787 shares of the company traded hands. The stock has a price-to-earnings ratio of 18.17. The firm has a 50 day moving average price of $0.74 and a 200-day moving average price of $0.67. Culp has a one year low of $26.72 and a one year high of $37.80.
Culp (NYSE:CULP) last announced its earnings results on Tuesday, June 13th. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. Culp had a net margin of 7.21% and a return on equity of 18.26%. The company had revenue of $77.35 million during the quarter, compared to analysts’ expectations of $76.32 million.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, June 29th. Culp’s dividend payout ratio is currently 17.88%.
Culp Company Profile
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
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