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

Culp (NYSE:CULP) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Culp in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Culp Stock Down 1.3%

Shares of CULP opened at $3.53 on Monday. The stock has a 50 day moving average price of $3.59 and a 200 day moving average price of $3.96. Culp has a one year low of $3.33 and a one year high of $5.64. 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 stock has a market capitalization of $44.72 million, a price-to-earnings ratio of -4.11 and a beta of 1.03.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, December 10th. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 Investors Weigh In On Culp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CULP. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the 3rd quarter valued at $51,000. HighTower Advisors LLC raised its holdings in Culp by 23.3% in the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after buying an additional 9,197 shares during the period. Susquehanna International Group LLP lifted its position in Culp by 16.5% in the third 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. Arbor Investment Advisors LLC purchased a new position in Culp during the third quarter worth about $187,000. Finally, Wealthedge Investment Advisors LLC increased its position in shares of Culp by 27.6% during the second quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock valued at $271,000 after acquiring an additional 14,897 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.