The stock of Culp, Inc. (NYSE:CFI) hit a new 52-week high and has $60.00 target or 77.00% above today’s $33.90 share price. The 6 months bullish chart indicates low risk for the $424.05M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $60.00 price target is reached, the company will be worth $326.52 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 12,085 shares traded hands. Culp, Inc. (NYSE:CFI) has risen 20.28% since April 19, 2016 and is uptrending. It has outperformed by 16.42% the S&P500.
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. Culp Inc has been the topic of 4 analyst reports since September 4, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the shares of CFI in a report on Friday, September 4 with “Buy” rating. Cantor Fitzgerald initiated Culp, Inc. (NYSE:CFI) on Tuesday, November 3 with “Hold” rating. As per Tuesday, May 24, the company rating was initiated by Topeka Capital Markets. Zacks upgraded it to “Strong-Buy” rating and $39 target price in Friday, September 4 report.
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 2016 Q2. Its down 0.36, from 1.46 in 2016Q1. The ratio turned negative, 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.
Atlantic Tru Gp Limited Liability Corporation has 0.29% invested in the company for 1.43M shares. Thomson Horstmann Bryant Inc holds 0.13% or 37,447 shares in its portfolio. Raymond James And Assoc owns 9,300 shares or 0% of their US portfolio. Blackrock Gru Ltd accumulated 12,080 shares or 0% of the stock. Zacks Investment Management has 49,103 shares for 0.04% of their US portfolio. Blackrock Japan Co Limited last reported 0% of its portfolio in the stock. Vanguard Grp holds 0% or 429,002 shares in its portfolio. Tower Capital (Trc) accumulated 0% or 240 shares. Geode Mgmt Limited Liability Company has 0% invested in the company for 63,171 shares. The New York-based D E Shaw & has invested 0% in Culp, Inc. (NYSE:CFI). Legal And General Gru Public Ltd owns 855 shares or 0% of their US portfolio. Moreover, Bank & Trust Of New York Mellon Corp has 0% invested in Culp, Inc. (NYSE:CFI) for 66,569 shares. Johnson Counsel owns 15,000 shares or 0.01% of their US portfolio. Price T Rowe Associates Md accumulated 1.32M shares or 0.01% of the stock. Moreover, Us Retail Bank De has 0% invested in Culp, Inc. (NYSE:CFI) for 908 shares.
Insider Transactions: Since July 20, 2016, the stock had 0 buys, and 17 sales for $3.53 million net activity. FLAVIN PATRICK B also sold $335,035 worth of Culp, Inc. (NYSE:CFI) shares. SAXON FRANKLIN N had sold 6,000 shares worth $197,000. LARSON KENNETH R sold $66,150 worth of Culp, Inc. (NYSE:CFI) on Monday, November 14. CULP ROBERT G III sold $274,916 worth of stock or 8,204 shares. Another trade for 8,000 shares valued at $257,280 was made by CHUMBLEY BOYD BROOKS on Monday, September 12. Another trade for 4,979 shares valued at $167,444 was made by CULP ROBERT GEORGE IV on Wednesday, September 7.
More notable recent Culp, Inc. (NYSE:CFI) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on December 21, 2009, also Equitiesfocus.com with their article: “Culp, Inc. (NYSE:CFI) Quarterly EPS From Continuing Operations Stands At $0.4324” published on November 21, 2016, Bizjournals.com published: “Culp chairman continues recent flurry of stock deals” on September 27, 2016. More interesting news about Culp, Inc. (NYSE:CFI) were released by: Bizjournals.com and their article: “Culp to expand mattress fabric facility in Stokesdale” published on January 28, 2014 as well as Businesswire.com‘s news article titled: “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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