Shares of Culp, Inc. (NYSE:CULP) have been given an average broker rating score of 2.00 (Buy) from the two brokers 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 given a strong buy recommendation to the company.
Brokerages have set a 12 month consensus price objective of $24.00 for the company and are forecasting that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 216 out of 256 based on the ratings given to related companies.
Several research firms have issued reports on CULP. ValuEngine cut Culp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut Culp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 4th.
CULP stock remained flat at $$19.00 during trading on Friday. The company had a trading volume of 38,223 shares, compared to its average volume of 103,465. The firm has a market cap of $239.35 million, a PE ratio of 12.75 and a beta of 0.24. Culp has a 1 year low of $18.35 and a 1 year high of $33.00.
Culp (NYSE:CULP) last issued its quarterly earnings results on Thursday, November 29th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). Culp had a net margin of 5.07% and a return on equity of 9.42%. The company had revenue of $77.01 million during the quarter, compared to analyst estimates of $76.32 million. As a group, equities research analysts forecast that Culp will post 0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.10 per share. This is a boost from Culp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.40 annualized dividend and a yield of 2.11%. Culp’s payout ratio is presently 26.85%.
Large investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of Culp during the 2nd quarter worth approximately $234,000. BlackRock Inc. boosted its stake in shares of Culp by 0.8% during the 2nd quarter. BlackRock Inc. now owns 881,478 shares of the textile maker’s stock worth $21,640,000 after acquiring an additional 6,814 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Culp by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,585,923 shares of the textile maker’s stock worth $38,379,000 after acquiring an additional 19,933 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Culp by 4.2% during the 3rd quarter. Renaissance Technologies LLC now owns 666,100 shares of the textile maker’s stock worth $16,120,000 after acquiring an additional 26,900 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in shares of Culp by 22.4% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 254,078 shares of the textile maker’s stock worth $6,148,000 after acquiring an additional 46,515 shares in the last quarter. 87.02% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Article: Why investors pay attention to retained earnings
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Culp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Culp and related companies with MarketBeat.com's FREE daily email newsletter.