Culp (NYSE:CULP) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Culp, Inc. (NYSE:CULP)’s stock price crossed 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.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Culp from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Culp has a consensus rating of “Moderate Buy”.

Culp Stock Down 0.8%

The firm has a market capitalization of $44.83 million, a price-to-earnings ratio of -4.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The business has a fifty day moving average price of $3.28 and a two-hundred day moving average price of $3.26.

Hedge Funds Weigh In On Culp

Several hedge funds and other institutional investors have recently bought and sold shares of CULP. Geode Capital Management LLC lifted its stake in Culp by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 118,715 shares of the textile maker’s stock valued at $423,000 after acquiring an additional 3,606 shares during the period. Vanguard Group Inc. increased its stake in shares of Culp by 1.0% in the third quarter. Vanguard Group Inc. now owns 507,062 shares of the textile maker’s stock worth $2,261,000 after acquiring an additional 5,019 shares during the period. Susquehanna International Group LLP increased its stake 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 worth $181,000 after acquiring an additional 5,762 shares during the period. Moors & Cabot Inc. raised its holdings in shares of 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. Finally, HighTower Advisors LLC raised its holdings 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 purchasing an additional 9,197 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.