Culp (NYSE:CULP) Stock Rating Lowered by Zacks Research

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Culp Trading Up 5.0%

Shares of CULP stock opened at $3.80 on Tuesday. Culp has a fifty-two week low of $3.33 and a fifty-two week high of $5.64. The stock’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $4.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. The company has a market cap of $48.11 million, a PE ratio of -4.42 and a beta of 1.03.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in shares of Culp in the 3rd quarter valued at about $51,000. Susquehanna International Group LLP increased 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 buying an additional 5,762 shares during the period. Arbor Investment Advisors LLC bought a new stake in Culp during the third quarter valued at $187,000. Wealthedge Investment Advisors LLC raised its position in shares of Culp by 27.6% in 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. Finally, Moors & Cabot Inc. lifted its stake 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 purchasing an additional 7,620 shares during the period. 75.05% of the stock is owned by institutional investors.

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.