Culp (NYSE:CULP) Share Price Passes Above 200 Day Moving Average – What’s Next?

Culp, Inc. (NYSE:CULP – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.26 and traded as high as $3.63. Culp shares last traded at $3.54, with a volume of 11,453 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Culp from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

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Culp Price 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 firm has a market capitalization of $44.07 million, a price-to-earnings ratio of -4.05 and a beta of 1.19. The company’s 50 day moving average is $3.29 and its 200-day moving average is $3.26.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC lifted its holdings in Culp by 23.3% during the 4th quarter. HighTower Advisors LLC now owns 48,590 shares of the textile maker’s stock valued at $173,000 after purchasing an additional 9,197 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Culp by 16.5% in the third quarter. Susquehanna International Group LLP now owns 40,652 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 5,762 shares during the last quarter. Grace & White Inc. NY raised its position in shares of Culp by 24.7% in the first quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker’s stock valued at $413,000 after purchasing an additional 29,845 shares during the period. Geode Capital Management LLC lifted its stake in shares of Culp by 3.1% during the 4th 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 last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Culp by 3.9% during the 3rd quarter. Moors & Cabot Inc. now owns 201,191 shares of the textile maker’s stock worth $897,000 after buying an additional 7,620 shares during the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

Culp Company Profile

(Get Free Report)

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.

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