Culp, Inc. (CULP) Receives Consensus Rating of “Buy” from Brokerages

Shares of Culp, Inc. (NYSE:CULP) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One 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 target of $34.50 for the company and are forecasting that the company will post $0.43 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 225 out of 265 based on the ratings given to its competitors.

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A number of research firms have recently commented on CULP. TheStreet lowered Culp from a “b” rating to a “c+” rating in a research note on Wednesday, February 28th. ValuEngine upgraded Culp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research lowered Culp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st.

Culp (NYSE CULP) traded up $0.65 during midday trading on Friday, reaching $30.70. The company’s stock had a trading volume of 29,435 shares, compared to its average volume of 16,739. Culp has a one year low of $26.15 and a one year high of $34.05. The company has a market capitalization of $374.12, a price-to-earnings ratio of 26.70 and a beta of 0.23.

Culp (NYSE:CULP) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.06). Culp had a net margin of 4.46% and a return on equity of 13.46%. The company had revenue of $85.31 million for the quarter, compared to the consensus estimate of $78.56 million. equities analysts anticipate that Culp will post 1.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. Culp’s payout ratio is presently 31.30%.

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About Culp

Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.

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