Culp (CULP) Lifted to Buy at ValuEngine

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Culp (NYSE:CULP) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

CULP has been the topic of several other reports. Zacks Investment Research lowered shares of Culp from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Stifel Nicolaus decreased their target price on shares of Culp from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 31st.

Shares of NYSE CULP traded up $0.50 during trading on Thursday, hitting $20.69. 34,700 shares of the company were exchanged, compared to its average volume of 24,591. The firm has a market capitalization of $252.82 million, a P/E ratio of 13.89 and a beta of 0.14. Culp has a 1 year low of $19.91 and a 1 year high of $33.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.82 and a current ratio of 3.33.

Culp (NYSE:CULP) last issued its earnings results on Thursday, November 29th. The textile maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $77.01 million for the quarter, compared to analysts’ expectations of $76.32 million. Culp had a return on equity of 9.53% and a net margin of 5.07%. On average, sell-side analysts forecast that Culp will post 0.99 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CULP. Victory Capital Management Inc. raised its stake in shares of Culp by 24.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,565,990 shares of the textile maker’s stock worth $38,445,000 after buying an additional 304,645 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Culp by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,054 shares of the textile maker’s stock worth $2,406,000 after buying an additional 5,382 shares during the last quarter. Keybank National Association OH raised its stake in shares of Culp by 16.7% during the 2nd quarter. Keybank National Association OH now owns 30,275 shares of the textile maker’s stock worth $743,000 after buying an additional 4,325 shares during the last quarter. BlackRock Inc. raised 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 buying an additional 6,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Culp by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 741,369 shares of the textile maker’s stock worth $18,201,000 after buying an additional 6,459 shares during the last quarter. 86.81% of the stock is 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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