Culp, Inc. (CULP) Given Consensus Recommendation of “Buy” by Analysts

Culp, Inc. (NYSE:CULP) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts 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.

Analysts have set a 12-month consensus target price of $28.00 for the company and are anticipating 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 235 out of 257 based on the ratings given to related companies.

CULP has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Culp from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 30th. Stifel Nicolaus cut their price objective on shares of Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 31st.

Culp stock traded down $0.31 during trading on Friday, reaching $22.35. The stock had a trading volume of 11,200 shares, compared to its average volume of 24,648. Culp has a 52-week low of $21.04 and a 52-week high of $34.05. The company has a quick ratio of 1.82, a current ratio of 3.33 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $286.01 million, a P/E ratio of 14.91 and a beta of 0.18.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. Culp had a net margin of 5.34% and a return on equity of 10.56%. The company had revenue of $71.47 million during the quarter, compared to the consensus estimate of $71.91 million. As a group, research analysts anticipate that Culp will post 1.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were given a $0.09 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.61%. Culp’s dividend payout ratio (DPR) is 24.16%.

Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new position in Culp in the 2nd quarter valued at $234,000. BlackRock Inc. purchased a new stake in shares of Culp during the 1st quarter worth $26,722,000. Renaissance Technologies LLC boosted its position in shares of Culp by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 639,200 shares of the textile maker’s stock worth $15,692,000 after purchasing an additional 14,100 shares in the last quarter. Northern Trust Corp purchased a new stake in shares of Culp during the 1st quarter worth $4,259,000. Finally, Confluence Investment Management LLC boosted its position in shares of Culp by 4.4% during the 2nd quarter. Confluence Investment Management LLC now owns 145,441 shares of the textile maker’s stock worth $3,570,000 after purchasing an additional 6,084 shares in the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.

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.

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