Culp (CULP) Stock Rating Lowered by Zacks Investment Research

Culp (NYSE:CULP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Culp, Inc. manufactures, sources, markets, and sells mattress fabrics and upholstery fabrics. The Company’s fabrics are used in the production of residential and commercial furniture and bedding products, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, office seating, panel systems, and mattress sets. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for covering mattresses, box springs, and foundations. The Upholstery Fabric segment provides synthetic leathers, velvets, woven jacquards, woven dobbies, and suedes. Culp, Inc. is headquartered in High Point, North Carolina. “

Separately, ValuEngine upgraded shares of Culp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.

Culp (NYSE:CULP) traded down $1.00 during trading hours on Monday, reaching $29.70. 19,746 shares of the company traded hands, compared to its average volume of 15,314. The company has a market capitalization of $381.76, a PE ratio of 17.27 and a beta of 0.09. Culp has a twelve month low of $26.15 and a twelve month high of $34.50.

Culp (NYSE:CULP) last released its quarterly earnings results on Thursday, November 30th. The textile maker reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $80.70 million during the quarter, compared to the consensus estimate of $75.74 million. Culp had a net margin of 6.85% and a return on equity of 14.14%. sell-side analysts forecast that Culp will post 1.56 EPS for the current year.

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About Culp

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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