Culp Inc. (NYSE:CFI) Given Consensus Recommendation of “Buy” by Analysts
Shares of Culp Inc. (NYSE:CFI) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a twelve-month consensus price objective of $36.00 for the company and are anticipating that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 109 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of Culp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd.
In other Culp news, CEO Franklin N. Saxon sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $29.73, for a total transaction of $29,730.00. Following the transaction, the chief executive officer now owns 103,733 shares of the company’s stock, valued at $3,083,982.09. The transaction was disclosed in a legal filing 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 transaction of $257,280.00. Following the transaction, the vice president now directly owns 16,531 shares in the company, valued at approximately $531,636.96. The disclosure for this sale can be found here. Company insiders own 13.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Culp by 2.4% in the first quarter. State Street Corp now owns 176,682 shares of the company’s stock worth $4,632,000 after buying an additional 4,127 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $1,625,000 after buying an additional 2,456 shares in the last quarter. Royal Bank of Canada increased its position 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 worth $805,000 after buying an additional 2,049 shares in the last quarter. Foundry Partners LLC increased its position in shares of Culp by 391.7% in the second quarter. Foundry Partners LLC now owns 64,365 shares of the company’s stock worth $1,778,000 after buying an additional 51,275 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position 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 worth $2,011,000 after buying an additional 4,700 shares in the last quarter. 85.25% of the stock is currently owned by institutional investors.
Culp (NYSE:CFI) opened at 29.60 on Wednesday. The firm has a market cap of $364.26 million, a P/E ratio of 20.99 and a beta of 0.35. Culp has a 52 week low of $22.61 and a 52 week high of $34.30. The company’s 50 day moving average is $30.91 and its 200-day moving average is $28.27.
Culp (NYSE:CFI) last announced its earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.07. Culp had a net margin of 5.60% and a return on equity of 18.84%. The firm had revenue of $80.70 million for the quarter. Equities analysts expect that Culp will post $2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 0.95%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio is currently 19.86%.
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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