Culp (NYSE:CULP) Rating Lowered to “Strong Sell” at Zacks Research

Culp (NYSE:CULP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Culp in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Culp Price Performance

Shares of CULP stock traded down $0.07 on Tuesday, reaching $3.73. 2,318 shares of the company were exchanged, compared to its average volume of 26,802. Culp has a 1 year low of $3.33 and a 1 year high of $5.64. The business has a 50-day moving average price of $3.72 and a 200 day moving average price of $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 $47.27 million, a price-to-earnings ratio of -4.33 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 the consensus estimate of ($0.18) by ($0.12). Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%. The company had revenue of $53.20 million during the quarter, compared to analyst estimates of $53.11 million.

Institutional Investors Weigh In On Culp

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in shares of Culp in the third quarter valued at about $51,000. Susquehanna International Group LLP raised its stake in 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 purchasing an additional 5,762 shares during the period. Arbor Investment Advisors LLC acquired a new position in shares of Culp in the 3rd quarter valued at $187,000. Wealthedge Investment Advisors LLC increased its holdings in shares of Culp by 27.6% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock worth $271,000 after buying an additional 14,897 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position 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 worth $897,000 after buying an additional 7,620 shares during the period. 75.05% of the stock is 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.