Shares of Culp, Inc. (NYSE:CFI) have received an average broker rating score of 0.00 () from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus target price of $38.00 for the company and are forecasting that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 183 out of 265 based on the ratings given to related companies.
CFI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Culp from a “hold” rating to a “sell” rating in a report on Thursday, March 2nd. Stifel Nicolaus boosted their price target on shares of Culp from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 5th.
Shares of Culp (NYSE:CFI) opened at 31.95 on Monday. The stock has a market cap of $393.43 million, a P/E ratio of 20.22 and a beta of 0.51. Culp has a 1-year low of $24.21 and a 1-year high of $37.80. The company’s 50-day moving average is $32.57 and its 200 day moving average is $32.59.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, March 30th. Culp’s payout ratio is presently 21.77%.
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In related news, Chairman Robert G. Culp III sold 16,760 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $31.18, for a total transaction of $522,576.80. Following the transaction, the chairman now directly owns 101,294 shares of the company’s stock, valued at $3,158,346.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Franklin N. Saxon sold 5,691 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $31.18, for a total transaction of $177,445.38. Following the transaction, the chief executive officer now directly owns 117,089 shares in the company, valued at $3,650,835.02. The disclosure for this sale can be found here. Insiders have sold 24,810 shares of company stock worth $772,229 over the last ninety days. 13.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Culp by 14.8% in the fourth quarter. State Street Corp now owns 204,584 shares of the company’s stock worth $7,599,000 after buying an additional 26,388 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Culp by 24.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,019,158 shares of the company’s stock worth $37,862,000 after buying an additional 199,058 shares during the last quarter. WCM Investment Management CA increased its position in shares of Culp by 1.9% in the third quarter. WCM Investment Management CA now owns 69,676 shares of the company’s stock worth $2,074,000 after buying an additional 1,305 shares during the last quarter. Isthmus Partners LLC increased its position in shares of Culp by 1.6% in the third quarter. Isthmus Partners LLC now owns 24,681 shares of the company’s stock worth $747,000 after buying an additional 382 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new position in shares of Culp during the third quarter worth approximately $258,000. 85.45% of the stock is currently owned by hedge funds and other institutional investors.
Culp Company Profile
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
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