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

Culp, Inc. (NYSE:CULP) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.49 and traded as high as $3.72. Culp shares last traded at $3.61, with a volume of 19,602 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CULP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. Zacks Research raised Culp from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Culp presently has an average rating of “Reduce”.

Culp Price Performance

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 company has a market capitalization of $45.71 million, a price-to-earnings ratio of -4.20 and a beta of 1.22. The firm has a 50-day simple moving average of $3.03 and a two-hundred day simple moving average of $3.49.

Insider Activity at Culp

In other Culp news, insider Thomas Bruno bought 10,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of $2.77 per share, for a total transaction of $27,700.00. Following the transaction, the insider directly owned 90,000 shares of the company’s stock, valued at approximately $249,300. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders bought 28,492 shares of company stock worth $85,346. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Culp

Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC grew its position in shares of Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after acquiring an additional 9,197 shares during the period. Susquehanna International Group LLP grew 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 acquiring an additional 5,762 shares during the period. Wealthedge Investment Advisors LLC grew its position in shares of Culp by 5.1% during the 3rd quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock valued at $323,000 after acquiring an additional 3,513 shares during the period. Grace & White Inc. NY grew its position in shares of Culp by 24.7% during the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 29,845 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Culp by 3.1% during 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. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.