Culp, Inc. (CULP) on Focus After Forming Wedge Down

The stock of Culp, Inc. (CULP) formed a down wedge with $19.37 target or 7.00 % below today’s $20.83 share price. The 9 months wedge indicates high risk for the $260.15M company. If the $19.37 price target is reached, the company will be worth $18.21M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 3.15% or $0.64 during the last trading session, reaching $20.83. About 22,011 shares traded. Culp, Inc. (NYSE:CULP) has declined 18.07% since December 6, 2017 and is downtrending. It has underperformed by 33.69% the S&P500.

Analysts await Culp, Inc. (NYSE:CULP) to report earnings on February, 27. They expect $0.39 earnings per share, down 7.14 % or $0.03 from last year’s $0.42 per share. CULP’s profit will be $4.87 million for 13.35 P/E if the $0.39 EPS becomes a reality. After $0.20 actual earnings per share reported by Culp, Inc. for the previous quarter, Wall Street now forecasts 95.00 % EPS growth.

More notable recent Culp, Inc. (NYSE:CULP) news were published by: Bizjournals.com which released: “GE Capital sells $1.5B medical equipment financing portfolio – Boston Business Journal” on November 16, 2018, also Seekingalpha.com with their article: “Culp, Inc. (CULP) CEO Frank Saxon on Q1 2019 Results – Earnings Call Transcript – Seeking Alpha” published on August 30, 2018, Benzinga.com published: “Earnings Scheduled For November 29, 2018 – Benzinga” on November 29, 2018. More interesting news about Culp, Inc. (NYSE:CULP) were released by: Finance.Yahoo.com and their article: “GE Stock Drops as CEO Culp Hints at Asset Sales – Yahoo Finance” published on November 12, 2018 as well as Seekingalpha.com‘s news article titled: “Culp: Too Many Concerns – Seeking Alpha” with publication date: July 16, 2018.

Culp, Inc. manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. The company has market cap of $260.15 million. It operates in two divisions, Mattress Fabrics and Upholstery Fabrics. It has a 15.65 P/E ratio. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

Culp, Inc. (NYSE:CULP) Institutional Positions Chart

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