Brokerages Set $38.00 Target Price for Culp, Inc. (CULP)
Culp, Inc. (NYSE:CULP) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.
Brokers have set a 1 year consensus price objective of $38.00 for the company and are anticipating that the company will post $0.53 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 126 out of 265 based on the ratings given to related companies.
Separately, ValuEngine cut shares of Culp from a “buy” rating to a “hold” rating in a research note on Friday, June 9th.
Culp (NYSE:CULP) traded down 0.93% during mid-day trading on Monday, hitting $32.00. 18,962 shares of the company traded hands. Culp has a one year low of $26.72 and a one year high of $37.80. The firm has a 50 day moving average of $32.78 and a 200 day moving average of $32.65. The firm has a P/E ratio of 17.98.
Culp (NYSE:CULP) last issued its quarterly earnings data on Tuesday, June 13th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $77.35 million during the quarter, compared to analysts’ expectations of $76.32 million. Culp had a net margin of 7.21% and a return on equity of 17.87%. Equities research analysts expect that Culp will post $2.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.32 annualized dividend and a yield of 1.00%. Culp’s dividend payout ratio is currently 17.88%.
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In other Culp news, Chairman Robert G. Culp III sold 24,995 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $33.26, for a total value of $831,333.70. Following the completion of the transaction, the chairman now owns 101,294 shares of the company’s stock, valued at approximately $3,369,038.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Franklin N. Saxon sold 8,486 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $33.26, for a total transaction of $282,244.36. Following the completion of the transaction, the chief executive officer now directly owns 103,531 shares of the company’s stock, valued at approximately $3,443,441.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,460 shares of company stock valued at $1,214,304. 13.50% of the stock is owned by corporate insiders.
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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