Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report released on Sunday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP stock opened at $5.94 on Friday. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The company has a 50-day simple moving average of $5.42 and a two-hundred day simple moving average of $4.90. The company has a market capitalization of $74.07 million, a price-to-earnings ratio of -5.35 and a beta of 1.19.

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

Insider Activity

In related news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction dated Thursday, September 19th. The stock was 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 trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction dated Thursday, September 19th. The stock was 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 trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Aron R. English bought 102,484 shares of Culp stock in a transaction dated Tuesday, September 17th. The shares were bought at an average cost of $5.85 per share, with a total value of $599,531.40. Following the completion of the transaction, the insider now directly owns 1,456,827 shares in the company, valued at approximately $8,522,437.95. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 261,483 shares of company stock valued at $1,558,117 in the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. boosted its holdings in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission. 75.05% of the stock is owned by institutional investors.

About Culp

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.