Culp (NYSE:CULP) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Monday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of Culp stock opened at $5.05 on Monday. Culp has a one year low of $4.25 and a one year high of $5.99. The company has a market cap of $62.97 million, a price-to-earnings ratio of -4.55 and a beta of 1.21. The business’s 50 day moving average price is $4.85 and its 200 day moving average price is $4.68.

Culp (NYSE:CULP) last announced its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 16.42% and a negative net margin of 6.13%. The firm had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. During the same quarter last year, the business posted ($0.38) earnings per share. On average, analysts predict that Culp will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sharon A. Decker acquired 5,000 shares of Culp stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the completion of the transaction, the director now owns 30,544 shares in the company, valued at approximately $158,828.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Culp news, Director Jonathan Lee Kelly bought 5,200 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was bought at an average price of $5.36 per share, with a total value of $27,872.00. Following the completion of the purchase, the director now directly owns 48,571 shares in the company, valued at $260,340.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon A. Decker acquired 5,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $5.20 per share, with a total value of $26,000.00. Following the completion of the purchase, the director now directly owns 30,544 shares of the company’s stock, valued at approximately $158,828.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 102,172 shares of company stock worth $507,138. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Culp

A number of institutional investors have recently modified their holdings of CULP. Essex Investment Management Co. LLC acquired a new stake in shares of Culp in the fourth quarter valued at $256,000. Vanguard Group Inc. grew its stake in shares of Culp by 4.2% in the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after buying an additional 19,640 shares in the last quarter. Finally, Gate City Capital Management LLC acquired a new stake in shares of Culp in the fourth quarter valued at $6,010,000. 75.05% of the stock is owned by institutional investors and hedge funds.

Culp Company Profile

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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.