Culp, Inc. (CULP) Stock Rating Upgraded by Zacks Investment Research

Culp, Inc. (NASDAQ:CULP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Culp, Inc. manufactures, sources, markets, and sells mattress fabrics and upholstery fabrics. The Company’s fabrics are used in the production of residential and commercial furniture and bedding products, including sofas, recliners, chairs, loveseats, sectionals, sofa-beds, office seating, panel systems, and mattress sets. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for covering mattresses, box springs, and foundations. The Upholstery Fabric segment provides synthetic leathers, velvets, woven jacquards, woven dobbies, and suedes. Culp, Inc. is headquartered in High Point, North Carolina. “

Culp (CULP) traded up 2.76% on Tuesday, hitting $31.70. The company had a trading volume of 25,339 shares. The firm’s 50 day moving average price is $31.16 and its 200 day moving average price is $31.29. The stock has a market cap of $394.38 million and a P/E ratio of 17.81. Culp has a 12-month low of $26.80 and a 12-month high of $37.80.

Culp (NASDAQ:CULP) last released its quarterly earnings results on Wednesday, August 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.13). Culp had a net margin of 6.27% and a return on equity of 13.40%. The firm had revenue of $79.53 million for the quarter, compared to the consensus estimate of $80.01 million. Equities analysts predict that Culp will post $1.59 earnings per share for the current fiscal year.

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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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