Stock of The Day: After Touching 52-Week High, Is Culp, Inc.’s Near-Term Analysis Positive?

Stock of The Day: After Touching 52 Week High, Is Culp, Inc.'s Near Term Analysis Positive?

The stock of Culp, Inc. (NYSE:CFI) hit a new 52-week high and has $34.14 target or 3.00% above today’s $33.15 share price. The 7 months bullish chart indicates low risk for the $405.57 million company. The 1-year high was reported on Dec, 1 by If the $34.14 price target is reached, the company will be worth $12.17 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 15,064 shares traded hands. Culp, Inc. (NYSE:CFI) has risen 26.31% since April 28, 2016 and is uptrending. It has outperformed by 20.38% the S&P500.

Analysts await Culp, Inc. (NYSE:CFI) to report earnings on December, 6. They expect $0.45 EPS, up 9.76% or $0.04 from last year’s $0.41 per share. CFI’s profit will be $5.51M for 18.42 P/E if the $0.45 EPS becomes a reality. After $0.56 actual EPS reported by Culp, Inc. for the previous quarter, Wall Street now forecasts -19.64% negative EPS growth.

Culp, Inc. (NYSE:CFI) Ratings Coverage

Out of 4 analysts covering Culp Inc (NYSE:CFI), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $39 is the highest target while $26 is the lowest. The $33.33 average target is 0.54% above today’s ($33.15) stock price. Culp Inc has been the topic of 4 analyst reports since September 4, 2015 according to StockzIntelligence Inc. Zacks upgraded Culp, Inc. (NYSE:CFI) on Friday, September 4 to “Strong-Buy” rating. Stifel Nicolaus maintained it with “Buy” rating and $35.0 target price in Friday, September 4 report. The stock of Culp, Inc. (NYSE:CFI) has “Hold” rating given on Tuesday, May 24 by Topeka Capital Markets. The rating was initiated by Cantor Fitzgerald on Tuesday, November 3 with “Hold”.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 0.36, from 1.46 in 2016Q1. The ratio dropped, as 8 funds sold all Culp, Inc. shares owned while 27 reduced positions. 14 funds bought stakes while 37 increased positions. They now own 10.40 million shares or 0.73% less from 10.48 million shares in 2016Q1.
Northern Trust holds 0% or 130,315 shares in its portfolio. Aberdeen Asset Mngmt Public Ltd Com Uk has 682,543 shares for 0.07% of their US portfolio. Wells Fargo Company Mn holds 0% of its portfolio in Culp, Inc. (NYSE:CFI) for 68,014 shares. State Street last reported 0% of its portfolio in the stock. Tower Rech (Trc) reported 240 shares or 0% of all its holdings. Fuller Thaler Asset Mngmt last reported 1,700 shares in the company. Aqr Capital Management Ltd Liability holds 0% of its portfolio in Culp, Inc. (NYSE:CFI) for 47,685 shares. Price T Rowe Associate Md accumulated 0.01% or 1.32M shares. Moreover, Tiaa Cref Mgmt Limited Liability has 0% invested in Culp, Inc. (NYSE:CFI) for 33,184 shares. Natl Bank Of Montreal Can owns 27,651 shares or 0% of their US portfolio. Atlantic Group Limited Com last reported 0.29% of its portfolio in the stock. Foundry Partners Lc accumulated 0.1% or 64,365 shares. Cornerstone Cap Mngmt Holdg holds 0.01% of its portfolio in Culp, Inc. (NYSE:CFI) for 25,980 shares. Endurance Wealth accumulated 100 shares or 0% of the stock. The Texas-based Bridgeway Management Incorporated has invested 0.01% in Culp, Inc. (NYSE:CFI).

Insider Transactions: Since July 20, 2016, the stock had 0 buys, and 18 selling transactions for $3.84 million net activity. SAXON FRANKLIN N sold 9,000 shares worth $304,595. CULP ROBERT G III sold 8,560 shares worth $276,834. $167,444 worth of shares were sold by CULP ROBERT GEORGE IV on Wednesday, September 7. 10,000 shares were sold by LARSON KENNETH R, worth $334,950 on Wednesday, September 7. FLAVIN PATRICK B had sold 10,000 shares worth $335,035 on Wednesday, September 7. Shares for $257,280 were sold by CHUMBLEY BOYD BROOKS on Monday, September 12.

More important recent Culp, Inc. (NYSE:CFI) news were published by: which released: “Virtual Stock Exchange” on December 21, 2009, also published article titled: “Culp, Inc. to Broadcast Fiscal 2017 Second Quarter Conference Call Live on the …”, published: “Culp to expand mattress fabric facility in Stokesdale” on January 28, 2014. More interesting news about Culp, Inc. (NYSE:CFI) was released by: and their article: “Culp, Inc. Names Fred A. Jackson to Board of Directors” with publication date: January 21, 2016.

CFI Company Profile

Culp, Inc., incorporated on March 16, 1972, is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Firm is engaged in the manufacturing, 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. The Firm operates through two divisions: mattress fabrics (Culp Home Fashions) and upholstery fabrics. The Firm markets a range of fabrics in the categories, including fabrics produced at its manufacturing facilities and fabrics produced by other suppliers. As of May 1, 2016, the Company had 13 manufacturing plants and distribution facilities located in North and South Carolina; Quebec, Canada, and Shanghai, China. The Firm operates its distribution centers in North Carolina and Shanghai, China.

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