Zacks Research cut shares of Culp (NYSE:CULP – Free Report) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks reports.
Culp Price Performance
Shares of CULP opened at $3.42 on Monday. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $3.45 and its two-hundred day moving average is $3.22. Culp has a twelve month low of $2.70 and a twelve month high of $4.80. The firm has a market capitalization of $43.50 million, a PE ratio of -3.98 and a beta of 1.19.
Institutional Investors Weigh In On Culp
Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in Culp in the 3rd quarter valued at approximately $6,642,000. Ameriprise Financial Inc. increased its position in shares of Culp by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 859,145 shares of the textile maker’s stock valued at $3,832,000 after buying an additional 164,257 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Culp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock worth $2,261,000 after buying an additional 5,019 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Culp in the second quarter valued at approximately $863,000. Finally, Moors & Cabot Inc. increased its stake in shares of Culp by 3.9% during the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after purchasing an additional 7,620 shares in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.
Culp Company Profile
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.
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