Culp (NYSE:CULP) Upgraded at Zacks Research

Culp (NYSE:CULP) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Culp in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Culp Stock Down 1.3%

NYSE CULP opened at $3.53 on Monday. The stock’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.96. The company has a quick ratio of 0.79, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Culp has a 52 week low of $3.33 and a 52 week high of $5.64. The company has a market capitalization of $44.72 million, a P/E ratio of -4.11 and a beta of 1.03.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, December 10th. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.12). Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%. The company had revenue of $53.20 million for the quarter, compared to the consensus estimate of $53.11 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Culp in the third quarter worth about $51,000. HighTower Advisors LLC increased its stake in Culp by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after acquiring an additional 9,197 shares during the last quarter. Susquehanna International Group LLP raised its holdings in shares of Culp by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after acquiring an additional 5,762 shares in the last quarter. Arbor Investment Advisors LLC purchased a new stake in shares of Culp during the 3rd quarter worth approximately $187,000. Finally, Wealthedge Investment Advisors LLC raised its holdings in shares of Culp by 27.6% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock worth $271,000 after acquiring an additional 14,897 shares in the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

About Culp

Culp, Inc, headquartered in High Point, North Carolina, is a leading producer of specialty fabrics for the home furnishings industry. Founded in 1972 by Bill Culp, the company has grown into a publicly traded enterprise that supplies upholstery and mattress fabrics to manufacturers and retailers across North America and abroad. Culp’s fabric offerings are designed to meet the aesthetic and performance requirements of residential furniture, contract seating, and hospitality applications.

The company operates through two primary segments.