Shares of Culp, Inc. (NYSE:CULP - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.23 and traded as high as $4.33. Culp shares last traded at $4.29, with a volume of 4,377 shares trading hands.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Culp in a research report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Culp has an average rating of "Sell".
View Our Latest Stock Report on Culp
Culp Stock Performance
The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 0.81. The firm has a market cap of $54.05 million, a price-to-earnings ratio of -4.42 and a beta of 1.08. The firm has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $4.23.
Culp (NYSE:CULP - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The textile maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.10. Culp had a negative return on equity of 11.68% and a negative net margin of 5.82%.The business had revenue of $50.69 million during the quarter, compared to the consensus estimate of $57.50 million. During the same quarter last year, the company earned ($0.36) earnings per share.
Insider Activity
In other news, CEO Robert George Iv Culp acquired 7,428 shares of Culp stock in a transaction dated Monday, September 22nd. The stock was purchased at an average cost of $4.42 per share, for a total transaction of $32,831.76. Following the completion of the purchase, the chief executive officer directly owned 111,458 shares in the company, valued at $492,644.36. This trade represents a 7.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 15,147 shares of company stock valued at $66,292 in the last three months. Company insiders own 7.40% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. 22NW LP raised its stake in shares of Culp by 14.4% in the first quarter. 22NW LP now owns 1,859,061 shares of the textile maker's stock worth $9,295,000 after purchasing an additional 234,346 shares during the last quarter. Wealthedge Investment Advisors LLC raised its stake in shares of Culp by 132.2% in the first quarter. Wealthedge Investment Advisors LLC now owns 54,045 shares of the textile maker's stock worth $270,000 after purchasing an additional 30,772 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Culp by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 694,888 shares of the textile maker's stock worth $2,731,000 after purchasing an additional 62,932 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Culp in the third quarter worth about $51,000. 75.05% of the stock is currently owned by hedge funds and other institutional investors.
Culp Company Profile
(
Get Free Report)
Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.
Further Reading
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