Culp (NYSE:CULP) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Culp (NYSE:CULP) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

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

Culp Stock Down 1.3%

NYSE CULP opened at $3.53 on Monday. The company has a market cap of $44.72 million, a price-to-earnings ratio of -4.11 and a beta of 1.03. Culp has a 1-year low of $3.33 and a 1-year high of $5.64. 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 50 day moving average of $3.59 and a 200-day moving average of $3.96.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, December 10th. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.12). The company had revenue of $53.20 million during the quarter, compared to analyst estimates of $53.11 million. Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wealthedge Investment Advisors LLC boosted its stake in shares of Culp by 5.1% in the 3rd quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock valued at $323,000 after purchasing an additional 3,513 shares in the last quarter. Geode Capital Management LLC lifted its stake in Culp by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock valued at $423,000 after purchasing an additional 3,606 shares during the last quarter. Vanguard Group Inc. lifted its stake in Culp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock valued at $2,261,000 after purchasing an additional 5,019 shares during the last quarter. Susquehanna International Group LLP boosted 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 in the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of Culp by 3.9% during the third 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 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.