Culp (NYSE:CULP) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Culp (NYSE:CULP) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Culp in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Culp Price Performance

Culp stock opened at $3.80 on Tuesday. The company has a market capitalization of $48.11 million, a price-to-earnings ratio of -4.42 and a beta of 1.03. The company has a current ratio of 1.76, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13. Culp has a 12 month low of $3.33 and a 12 month high of $5.64. The stock’s 50 day moving average is $3.72 and its 200-day moving average is $4.11.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, December 10th. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.12). Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%. The firm had revenue of $53.20 million during the quarter, compared to the consensus estimate of $53.11 million.

Institutional Investors Weigh In On Culp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Culp in the third quarter valued at approximately $51,000. Susquehanna International Group LLP lifted its holdings in shares of Culp by 16.5% during the 3rd quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock worth $181,000 after acquiring an additional 5,762 shares during the last quarter. Arbor Investment Advisors LLC bought a new position in Culp in the third quarter valued at $187,000. Wealthedge Investment Advisors LLC raised its position in Culp by 27.6% during the second quarter. Wealthedge Investment Advisors LLC now owns 68,942 shares of the textile maker’s stock valued at $271,000 after purchasing an additional 14,897 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Culp by 3.9% during the third quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after purchasing an additional 7,620 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.

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.