Analysts Set $34.50 Target Price for Culp, Inc. (CULP)

Shares of Culp, Inc. (NYSE:CULP) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokerages have set a 12-month consensus price objective of $34.50 for the company and are forecasting that the company will post $0.47 EPS for the current quarter, according to Zacks. Zacks has also assigned Culp an industry rank of 191 out of 255 based on the ratings given to related companies.

A number of equities analysts have issued reports on the stock. TheStreet raised shares of Culp from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. ValuEngine raised shares of Culp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research raised shares of Culp from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, February 20th.

Several large investors have recently made changes to their positions in CULP. Wells Fargo & Company MN acquired a new stake in shares of Culp in the first quarter valued at approximately $572,000. Rhumbline Advisers acquired a new stake in shares of Culp in the first quarter valued at approximately $295,000. Wedge Capital Management L L P NC acquired a new stake in shares of Culp in the first quarter valued at approximately $671,000. Victory Capital Management Inc. acquired a new stake in shares of Culp in the first quarter valued at approximately $38,534,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Culp in the first quarter valued at approximately $728,000. Institutional investors own 86.17% of the company’s stock.

NYSE CULP traded down $4.80 during trading hours on Monday, reaching $25.95. The company’s stock had a trading volume of 1,503 shares, compared to its average volume of 15,934. Culp has a 52 week low of $26.15 and a 52 week high of $34.05. The stock has a market capitalization of $392.80 million, a P/E ratio of 15.45 and a beta of 0.17.

Culp Company Profile

Culp, Inc manufacturers, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates through two segments, Mattress Fabrics and Upholstery Fabrics.

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