Culp (NYSE:CULP) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Culp, Inc. (NYSE:CULP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.24 and traded as high as $3.51. Culp shares last traded at $3.41, with a volume of 8,176 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Culp from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Culp presently has an average rating of “Moderate Buy”.

Culp Stock Performance

The company’s 50-day moving average is $3.36 and its two-hundred day moving average is $3.24. The company has a quick ratio of 0.79, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The company has a market cap of $42.04 million, a P/E ratio of -3.86 and a beta of 1.18.

Institutional Investors Weigh In On Culp

Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its holdings in Culp by 10.0% during the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker’s stock valued at $2,731,000 after purchasing an additional 62,932 shares during the period. Vanguard Group Inc. raised its stake in shares of Culp by 1.0% in the third quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock valued at $2,261,000 after buying an additional 5,019 shares during the period. Moors & Cabot Inc. raised its stake in shares of Culp by 3.9% in the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock valued at $897,000 after buying an additional 7,620 shares during the period. Susquehanna International Group LLP lifted its position 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 valued at $181,000 after buying an additional 5,762 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Culp during the 3rd quarter valued at $6,642,000. Institutional investors 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.