Zacks: Brokerages Set $38.00 Price Target for Culp, Inc. (NYSE:CULP)
Culp, Inc. (NYSE:CULP) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $38.00 for the company and are predicting that the company will post $0.53 EPS for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 123 out of 265 based on the ratings given to related companies.
Separately, ValuEngine lowered shares of Culp from a “buy” rating to a “hold” rating in a research note on Friday, June 9th.
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In other Culp news, Chairman Robert G. Culp III sold 1,049 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $34.00, for a total value of $35,666.00. Following the completion of the sale, the chairman now owns 101,294 shares in the company, valued at approximately $3,443,996. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,579 shares of company stock valued at $53,686. 13.50% of the stock is owned by insiders.
Shares of Culp (NYSE CULP) traded down 0.97% during midday trading on Monday, hitting $30.65. The stock had a trading volume of 26,102 shares. Culp has a 52-week low of $26.72 and a 52-week high of $37.80. The stock has a PE ratio of 17.22. The firm has a 50 day moving average price of $32.62 and a 200-day moving average price of $32.47.
Culp (NYSE:CULP) last issued its quarterly earnings results on Tuesday, June 13th. The textile maker reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.04. The firm had revenue of $77.35 million for the quarter, compared to analyst estimates of $76.32 million. Culp had a net margin of 7.21% and a return on equity of 17.87%. Equities analysts predict that Culp will post $2.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were issued a $0.08 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. Culp’s payout ratio is 17.88%.
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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