Culp (NYSE:CULP) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Culp (NYSE:CULP) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Culp Stock Performance

NYSE CULP opened at $3.79 on Monday. The company has a fifty day moving average of $3.20 and a two-hundred day moving average of $3.25. The company has a market capitalization of $47.99 million, a PE ratio of -4.41 and a beta of 1.19. Culp has a 1 year low of $2.70 and a 1 year high of $4.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Culp by 23.3% in the fourth quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after buying an additional 9,197 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of Culp by 16.5% during the third 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 during the last quarter. Grace & White Inc. NY grew its position in shares of Culp by 24.7% during the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock worth $413,000 after acquiring an additional 29,845 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Culp by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock valued at $423,000 after acquiring an additional 3,606 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in shares of Culp by 3.9% in the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock valued at $897,000 after acquiring an additional 7,620 shares during the period. 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.