Culp (NYSE:CULP) Releases Quarterly Earnings Results

Culp (NYSE:CULP) released its quarterly earnings results on Wednesday. The textile maker reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.21), Bloomberg Earnings reports. Culp had a net margin of 6.49% and a return on equity of 8.11%.

CULP stock opened at $17.48 on Thursday. The stock has a market cap of $214.72 million, a price-to-earnings ratio of 11.73 and a beta of 0.43. Culp has a one year low of $16.41 and a one year high of $31.30.

Several analysts have commented on CULP shares. Zacks Investment Research raised shares of Culp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James raised shares of Culp from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Culp currently has a consensus rating of “Hold” and a consensus price target of $26.00.

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC grew its stake in shares of Culp, Inc. (NYSE:CULP) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,119 shares of the textile maker’s stock after acquiring an additional 6,487 shares during the quarter. Geode Capital Management LLC owned about 0.79% of Culp worth $1,854,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 85.15% of the company’s stock.

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About Culp

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.

Further Reading: Return On Assets

Earnings History for Culp (NYSE:CULP)

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