Culp (NYSE:CULP) posted its quarterly earnings data on Thursday. The textile maker reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01), Morningstar.com reports. Culp had a return on equity of 10.56% and a net margin of 5.34%. The company had revenue of $77.01 million during the quarter, compared to the consensus estimate of $76.32 million. Culp updated its Q3 2019 guidance to EPS and its guidance to EPS.
NYSE CULP traded up $0.18 on Friday, reaching $20.96. 100 shares of the company’s stock traded hands, compared to its average volume of 17,759. Culp has a 12 month low of $20.55 and a 12 month high of $34.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.33 and a quick ratio of 1.82. The stock has a market capitalization of $275.86 million, a P/E ratio of 14.07 and a beta of 0.18.
A number of research analysts have commented on CULP shares. Zacks Investment Research upgraded shares of Culp from a “strong sell” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, August 14th. Stifel Nicolaus reduced their price target on shares of Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 31st.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of Culp during the second quarter valued at approximately $234,000. BlackRock Inc. boosted its stake in shares of Culp by 0.8% during the second quarter. BlackRock Inc. now owns 881,478 shares of the textile maker’s stock valued at $21,640,000 after purchasing an additional 6,814 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Culp by 1.3% during the third quarter. Victory Capital Management Inc. now owns 1,585,923 shares of the textile maker’s stock valued at $38,379,000 after purchasing an additional 19,933 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Culp by 2.3% during the second quarter. Renaissance Technologies LLC now owns 639,200 shares of the textile maker’s stock valued at $15,692,000 after purchasing an additional 14,100 shares during the period. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in shares of Culp by 22.4% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 254,078 shares of the textile maker’s stock valued at $6,148,000 after purchasing an additional 46,515 shares during the period. Institutional investors and hedge funds own 86.13% of the company’s stock.
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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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