Culp (CFI) was Initiated by Topeka Capital Markets to “Hold” and the brokerage firm has set the Price Target at $26. Topeka Capital Markets advised their investors in a research report released on May 24, 2016.
Culp opened for trading at $26.63 and hit $27.44 on the upside on Friday, eventually ending the session at $27.05, with a gain of 1.69% or 0.45 points. The heightened volatility saw the trading volume jump to 50,460 shares. Company has a market cap of $331,363 M.
In a different news, on Apr 19, 2016, Patrick B Flavin (director) sold 2,000 shares at $27.55 per share price. According to the SEC, on Apr 19, 2016, Boyd Brooks Chumbley (Executive VP Upholstery Fabric) sold 1,000 shares at $27.04 per share price. On Jul 16, 2015, Kenneth W Mcallister (director) sold 5,000 shares at $32.74 per share price, according to the Form-4 filing with the securities and exchange commission.
Culp Inc. is a producer of mattress fabrics 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. It operates through two segments: mattress fabrics (Culp Home Fashions) and upholstery fabrics. Its mattress fabrics segment offers woven jacquard fabrics knitted fabrics and some converted fabrics. Its Upholstery fabrics segment offers jacquard woven fabrics velvets microdenier suedes woven dobbies knitted fabrics piece-dyed woven products and polyurethane leather look fabrics. As of May 3 2015 the Company had 13 manufacturing plants and distribution facilities located in North and South Carolina; Quebec Canada and Shanghai China. It markets a range of fabrics produced at its manufacturing facilities as well as fabrics produced by other suppliers to the customers across the globe.