Culp (CULP) Downgraded by Zacks Investment Research to Hold

Culp (NYSE:CULP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

Separately, ValuEngine upgraded shares of Culp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st.

Culp (CULP) opened at $28.55 on Wednesday. The company has a market cap of $348.81, a price-to-earnings ratio of 16.60 and a beta of 0.09. Culp has a one year low of $26.15 and a one year high of $34.50.

Culp (NYSE:CULP) last released its earnings results on Thursday, November 30th. The textile maker reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The company had revenue of $80.70 million for the quarter, compared to analyst estimates of $75.74 million. Culp had a net margin of 6.85% and a return on equity of 14.14%. equities research analysts expect that Culp will post 1.56 EPS for the current year.

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About Culp

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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