Culp (NYSE:CULP) Shares Cross Above Two Hundred Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemShares of Culp, Inc. (NYSE:CULP – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.49 and traded as high as $3.72. Culp shares last traded at $3.61, with a volume of 19,602 shares traded.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a research report on Monday, February 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Culp currently has an average rating of “Reduce”.
Check Out Our Latest Report on Culp
Culp Stock Performance
The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $3.03 and its 200-day simple moving average is $3.49. The stock has a market capitalization of $45.71 million, a price-to-earnings ratio of -4.20 and a beta of 1.22.
Insider Transactions at Culp
In other news, insider Thomas Bruno acquired 10,000 shares of Culp stock in a transaction dated Thursday, April 2nd. The shares were bought at an average cost of $2.77 per share, with a total value of $27,700.00. Following the purchase, the insider owned 90,000 shares in the company, valued at $249,300. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have purchased 28,492 shares of company stock valued at $85,346. Corporate insiders own 7.40% of the company’s stock.
Institutional Investors Weigh In On Culp
Several large investors have recently modified their holdings of CULP. HighTower Advisors LLC increased its position in shares of Culp by 23.3% during the fourth quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock worth $173,000 after buying an additional 9,197 shares during the period. Susquehanna International Group LLP increased its position in shares of Culp by 16.5% during the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after buying an additional 5,762 shares during the period. Wealthedge Investment Advisors LLC increased its position in shares of Culp by 5.1% during the third quarter. Wealthedge Investment Advisors LLC now owns 72,455 shares of the textile maker’s stock worth $323,000 after buying an additional 3,513 shares during the period. Grace & White Inc. NY increased its position in shares of Culp by 24.7% during the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock worth $413,000 after buying an additional 29,845 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Culp by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock worth $423,000 after buying an additional 3,606 shares during the period. 75.05% of the stock is currently owned by institutional investors and hedge funds.
About Culp
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.