Culp (NYSE:CULP) Upgraded at Zacks Research

Zacks Research upgraded shares of Culp (NYSE:CULP) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Culp Stock Performance

Shares of NYSE CULP opened at $3.39 on Monday. The company has a 50-day simple moving average of $3.58 and a 200-day simple moving average of $3.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The company has a market cap of $42.89 million, a PE ratio of -3.94 and a beta of 1.03. Culp has a 12 month low of $3.33 and a 12 month high of $5.64.

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 analysts’ consensus estimates of ($0.18) by ($0.12). Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.The firm had revenue of $53.20 million for the quarter, compared to analyst estimates of $53.11 million.

Institutional Investors Weigh In On Culp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of 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 in the last quarter. HighTower Advisors LLC raised its holdings in Culp by 23.3% in the fourth 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. CIBC Bancorp USA Inc. acquired a new position in Culp during the third quarter valued at approximately $6,642,000. Susquehanna International Group LLP lifted its position in Culp by 16.5% during 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 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 period. 75.05% of the stock is currently owned by institutional investors and hedge funds.

Culp Company Profile

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.