Zacks: Culp, Inc. (CULP) Receives Average Rating of “Buy” from Brokerages

Shares of Culp, Inc. (NYSE:CULP) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Analysts have set a 1 year consensus price objective of $34.50 for the company and are anticipating that the company will post $0.43 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 199 out of 265 based on the ratings given to its competitors.

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A number of equities research analysts have recently commented on CULP shares. ValuEngine upgraded shares of Culp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Culp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, January 31st. Finally, TheStreet downgraded shares of Culp from a “b” rating to a “c+” rating in a report on Wednesday, February 28th.

NYSE:CULP traded down $0.15 during mid-day trading on Thursday, hitting $30.85. 10,633 shares of the company’s stock traded hands, compared to its average volume of 17,594. Culp has a 1 year low of $26.15 and a 1 year high of $34.05. The company has a market capitalization of $387.20, a P/E ratio of 19.08 and a beta of 0.16.

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 business had revenue of $85.31 million for the quarter, compared to analysts’ expectations of $78.56 million. sell-side analysts predict that Culp will post 1.72 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Monday, April 2nd were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, March 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. Culp’s dividend payout ratio (DPR) is presently 18.09%.

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About Culp

Culp, Inc manufacturers, 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 through two segments, Mattress Fabrics and Upholstery Fabrics.

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