Key Points
- Culp CFO Mary Elizabeth Hunsberger purchased 5,000 shares at an average price of $3.60, investing $18,000 and increasing her direct ownership by 15.14% to 38,028 shares.
- Culp reported quarterly EPS of $0.47, exceeding analysts’ $0.44 estimate, while revenue of $53.97 million also topped expectations of $53.20 million.
- The stock opened at $3.60, but analyst sentiment remains cautious: Culp has a consensus “Reduce” rating after Zacks downgraded the shares to “Hold.”
Culp, Inc. (NYSE:CULP - Get Free Report) CFO Mary Elizabeth Hunsberger bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average cost of $3.60 per share, with a total value of $18,000.00. Following the completion of the transaction, the chief financial officer directly owned 38,028 shares in the company, valued at $136,900.80. This represents a 15.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Culp Price Performance
Shares of NYSE:CULP opened at $3.60 on Wednesday. The business's 50 day simple moving average is $3.52 and its two-hundred day simple moving average is $3.24. The firm has a market cap of $45.85 million, a P/E ratio of -4.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.76. Culp, Inc. has a 52-week low of $2.70 and a 52-week high of $4.75.
Culp (NYSE:CULP - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The textile maker reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. The firm had revenue of $53.97 million during the quarter, compared to analysts' expectations of $53.20 million. Culp had a negative return on equity of 12.53% and a negative net margin of 5.24%.
Analysts Set New Price Targets
Separately, Zacks Research downgraded shares of Culp from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce".
Get Our Latest Stock Analysis on CULP
Institutional Investors Weigh In On Culp
Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new stake in Culp in the 2nd quarter valued at $47,000. BlackRock Inc. purchased a new position in Culp during the 2nd quarter worth $863,000. Bank of New York Mellon Corp purchased a new position in Culp during the 2nd quarter worth $158,000. Finally, Grace & White Inc. NY grew its stake in shares of Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker's stock worth $413,000 after acquiring an additional 29,845 shares in the last quarter. Institutional investors own 75.05% of the company's stock.
Culp Company Profile
(
Get Free Report)
Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.
Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.
Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.
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