Why Culp's Stock Is Trading Higher Today

Culp CULP shares are trading higher on Friday.

Stifel upgraded the stock from Hold to Buy and raised its price target from $8 to $13 per share.

Culp manufacturers, sources, and markets mattress fabrics and sewn covers used for covering mattresses and box springs and upholstery fabrics including cut and sewn kits used in the production of upholstered furniture.

The company has two operating segments Mattress fabrics and Upholstery fabrics. The mattress fabrics segment, also known as Culp Home Fashions, manufactures and markets mattress fabrics and mattress covers to bedding manufacturers.

Culp shares were trading up 18.76% at $8.04 at time of publication on Friday. The stock has a 52-week high of $19.63 and a 52-week low of $5.28.