Shares of Culp, Inc. (NYSE:CULP) have received a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokerages have set a 12 month consensus target price of $28.00 for the company and are forecasting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 233 out of 255 based on the ratings given to related companies.
Several equities research analysts have issued reports on CULP shares. Stifel Nicolaus dropped their price target on Culp from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Zacks Investment Research raised Culp from a “strong sell” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday, August 14th. Finally, TheStreet lowered Culp from a “b-” rating to a “c+” rating in a research note on Friday, July 6th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CULP. Russell Investments Group Ltd. bought a new stake in shares of Culp in the 1st quarter valued at about $130,000. Citadel Advisors LLC bought a new stake in shares of Culp in the 2nd quarter valued at about $234,000. The Manufacturers Life Insurance Company bought a new stake in shares of Culp in the 1st quarter valued at about $260,000. California State Teachers Retirement System bought a new stake in shares of Culp in the 1st quarter valued at about $510,000. Finally, Wells Fargo & Company MN bought a new stake in shares of Culp in the 1st quarter valued at about $572,000. 86.17% of the stock is owned by institutional investors.
Shares of CULP stock opened at $22.92 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.33 and a quick ratio of 1.82. Culp has a 12-month low of $21.04 and a 12-month high of $34.05. The stock has a market cap of $289.89 million, a price-to-earnings ratio of 15.38 and a beta of 0.18.
Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, August 29th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Culp had a return on equity of 10.56% and a net margin of 5.34%. The firm had revenue of $71.47 million during the quarter, compared to analyst estimates of $71.91 million. Equities research analysts anticipate that Culp will post 1.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, September 28th. Culp’s dividend payout ratio (DPR) is presently 24.16%.
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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