Culp, Inc. (NYSE:CULP) has been given an average broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. Culp’s rating score has improved by 25% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a 1-year consensus target price of $23.00 for the company and are anticipating that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 188 out of 256 based on the ratings given to related companies.
CULP has been the subject of a number of analyst reports. Raymond James raised shares of Culp from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, March 1st. Zacks Investment Research cut shares of Culp from a “hold” rating to a “sell” rating in a research report on Monday, March 4th.
NYSE:CULP opened at $19.62 on Wednesday. The stock has a market capitalization of $243.90 million, a price-to-earnings ratio of 18.26 and a beta of 0.28. Culp has a 1-year low of $17.05 and a 1-year high of $32.05.
Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, February 27th. The textile maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $77.23 million during the quarter, compared to analysts’ expectations of $79.38 million. Culp had a net margin of 6.49% and a return on equity of 8.11%. As a group, equities research analysts predict that Culp will post 0.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.10 dividend. The ex-dividend date was Friday, March 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.04%. Culp’s payout ratio is currently 26.85%.
In other news, Director Fred A. Jackson acquired 3,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $17.57 per share, with a total value of $52,710.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its stake in shares of Culp by 509.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the textile maker’s stock valued at $45,000 after purchasing an additional 1,953 shares in the last quarter. US Bancorp DE raised its stake in shares of Culp by 144.0% in the 1st quarter. US Bancorp DE now owns 3,072 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,813 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Culp by 370.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,099 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 3,227 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Culp in the 1st quarter valued at about $155,000. Finally, MetLife Investment Advisors LLC raised its stake in shares of Culp by 68.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,924 shares of the textile maker’s stock valued at $192,000 after purchasing an additional 3,227 shares in the last quarter. 86.27% of the stock is owned by institutional investors.
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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