Zacks Research Upgrades Culp (NYSE:CULP) to Strong-Buy

Culp (NYSE:CULP) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Culp Price Performance

NYSE CULP opened at $3.79 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $47.99 million, a PE ratio of -4.41 and a beta of 1.19. The company has a 50 day moving average price of $3.20 and a two-hundred day moving average price of $3.25. Culp has a 12-month low of $2.70 and a 12-month high of $4.80.

Institutional Investors Weigh In On Culp

A number of large investors have recently bought and sold shares of the business. Susquehanna International Group LLP raised its holdings in Culp by 16.5% during the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock valued at $181,000 after buying an additional 5,762 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after acquiring an additional 9,197 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Culp by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after acquiring an additional 3,606 shares in the last quarter. Grace & White Inc. NY increased its holdings in shares of Culp by 24.7% during the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares during the last quarter. Finally, Moors & Cabot Inc. increased its holdings in shares of Culp by 3.9% during the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock valued at $897,000 after acquiring an additional 7,620 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.

About Culp

Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp’s fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.

The company operates through two primary segments.