Shares of Culp, Inc. (NYSE:CULP) have been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokers have set a one year consensus price objective of $28.00 for the company and are forecasting 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 231 out of 257 based on the ratings given to related companies.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Culp from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 30th. Stifel Nicolaus cut their target price on Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 31st.
NYSE CULP traded down $0.30 during trading on Friday, hitting $22.05. 7,753 shares of the company traded hands, compared to its average volume of 36,686. Culp has a 12 month low of $21.04 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 firm has a market cap of $283.75 million, a P/E ratio of 14.80 and a beta of 0.18.
Culp (NYSE:CULP) last posted its earnings results on Wednesday, August 29th. The textile maker reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. Culp had a return on equity of 10.56% and a net margin of 5.34%. The company had revenue of $71.47 million for the quarter, compared to analyst estimates of $71.91 million. On average, equities analysts expect that Culp will post 1.2 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $0.36 annualized dividend and a yield of 1.63%. Culp’s dividend payout ratio (DPR) is currently 24.16%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P increased its stake in shares of Culp by 20.9% in the third quarter. Martingale Asset Management L P now owns 49,824 shares of the textile maker’s stock worth $1,206,000 after purchasing an additional 8,610 shares during the period. Thomson Horstmann & Bryant Inc. increased its stake in shares of Culp by 22.4% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 254,078 shares of the textile maker’s stock worth $6,148,000 after purchasing an additional 46,515 shares during the period. Victory Capital Management Inc. increased its stake in shares of Culp by 1.3% in the third quarter. Victory Capital Management Inc. now owns 1,585,923 shares of the textile maker’s stock worth $38,379,000 after purchasing an additional 19,933 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Culp by 38.6% in the third quarter. Wedge Capital Management L L P NC now owns 30,431 shares of the textile maker’s stock worth $736,000 after purchasing an additional 8,482 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Culp by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 98,054 shares of the textile maker’s stock worth $2,406,000 after purchasing an additional 5,382 shares during the period. Institutional investors own 85.96% 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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