Culp, Inc. (NYSE:CULP) has received a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a 12-month consensus target price of $28.00 for the company and are predicting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 186 out of 255 based on the ratings given to related companies.
Several brokerages have commented on CULP. TheStreet upgraded shares of Culp from a “c+” rating to a “b-” rating in a research note on Wednesday, June 6th. ValuEngine upgraded shares of Culp from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Zacks Investment Research cut shares of Culp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th. Finally, Stifel Nicolaus decreased their price target on shares of Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 31st.
Shares of CULP stock opened at $24.10 on Friday. The firm has a market capitalization of $290.52 million, a price-to-earnings ratio of 16.17 and a beta of 0.11. Culp has a 52 week low of $22.80 and a 52 week high of $34.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.94 and a current ratio of 3.33.
Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, August 29th. The textile maker reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $71.47 million for the quarter, compared to analysts’ expectations of $71.91 million. Culp had a net margin of 5.34% and a return on equity of 10.56%. equities analysts expect that Culp will post 1.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, September 28th. Culp’s payout ratio is currently 24.16%.
In related news, Director Fred A. Jackson purchased 5,000 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were acquired at an average price of $25.32 per share, for a total transaction of $126,600.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in shares of Culp in the 1st quarter worth about $130,000. Citigroup Inc. bought a new position in Culp during the 1st quarter valued at about $135,000. MetLife Investment Advisors LLC bought a new position in Culp during the 1st quarter valued at about $143,000. American International Group Inc. bought a new position in Culp during the 1st quarter valued at about $214,000. Finally, Citadel Advisors LLC bought a new position in Culp during the 2nd quarter valued at about $234,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Culp Company Profile
Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.
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