Culp Inc. (NYSE:CFI) has received a consensus 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 rating and one has given a strong buy rating to the company.
Analysts have set a one year consensus price target of $36.00 for the company and are forecasting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 107 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Culp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd.
Shares of Culp (NYSE:CFI) remained flat at $29.75 on Wednesday. The company had a trading volume of 9,712 shares. The company’s 50 day moving average price is $30.86 and its 200-day moving average price is $28.22. Culp has a 12-month low of $22.61 and a 12-month high of $34.30. The stock has a market cap of $366.10 million, a P/E ratio of 21.10 and a beta of 0.35.
Culp (NYSE:CFI) last announced its earnings results on Tuesday, August 30th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.49 by $0.07. Culp had a return on equity of 18.84% and a net margin of 5.60%. The company had revenue of $80.70 million for the quarter. Equities analysts predict that Culp will post $2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio (DPR) is currently 19.86%.
In other news, CEO Franklin N. Saxon sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $31.54, for a total value of $157,700.00. Following the completion of the sale, the chief executive officer now directly owns 113,733 shares of the company’s stock, valued at $3,587,138.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Boyd Brooks Chumbley sold 8,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $32.16, for a total value of $257,280.00. Following the completion of the sale, the vice president now directly owns 16,531 shares of the company’s stock, valued at $531,636.96. The disclosure for this sale can be found here. Corporate insiders own 13.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in shares of Culp by 2.4% in the first quarter. State Street Corp now owns 176,682 shares of the company’s stock valued at $4,632,000 after buying an additional 4,127 shares during the period. Geode Capital Management LLC increased its stake in shares of Culp by 4.1% in the first quarter. Geode Capital Management LLC now owns 61,994 shares of the company’s stock valued at $1,625,000 after buying an additional 2,456 shares during the period. Royal Bank of Canada increased its stake in shares of Culp by 7.1% in the first quarter. Royal Bank of Canada now owns 30,729 shares of the company’s stock valued at $805,000 after buying an additional 2,049 shares during the period. Foundry Partners LLC increased its stake in shares of Culp by 391.7% in the second quarter. Foundry Partners LLC now owns 64,365 shares of the company’s stock valued at $1,778,000 after buying an additional 51,275 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its stake in shares of Culp by 6.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 72,800 shares of the company’s stock valued at $2,011,000 after buying an additional 4,700 shares during the period. 85.25% of the stock is owned by hedge funds and other institutional investors.
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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