Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note published on Friday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Down 0.2 %

CULP stock opened at $5.97 on Friday. The business’s 50-day simple moving average is $5.24 and its 200 day simple moving average is $4.79. The company has a market cap of $74.45 million, a PE ratio of -5.38 and a beta of 1.18. Culp has a twelve month low of $4.25 and a twelve month high of $6.77.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. The business had revenue of $56.54 million for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Insider Activity at Culp

In other Culp news, major shareholder Aron R. English purchased 22,125 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were bought at an average price of $5.00 per share, with a total value of $110,625.00. Following the completion of the transaction, the insider now directly owns 1,308,469 shares in the company, valued at approximately $6,542,345. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Culp news, major shareholder Aron R. English purchased 105,242 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now directly owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Aron R. English purchased 22,125 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was bought at an average price of $5.00 per share, with a total value of $110,625.00. Following the completion of the purchase, the insider now owns 1,308,469 shares of the company’s stock, valued at $6,542,345. The disclosure for this purchase can be found here. Insiders have bought 341,131 shares of company stock worth $1,947,474 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently bought a new stake in Culp stock. Gate City Capital Management LLC bought a new stake in shares of Culp, Inc. (NYSE:CULP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp accounts for approximately 5.7% of Gate City Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Gate City Capital Management LLC owned about 8.32% of Culp as of its most recent SEC filing. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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.