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

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

Culp Trading Down 1.1 %

Shares of NYSE CULP opened at $4.56 on Friday. Culp has a 1-year low of $4.20 and a 1-year high of $5.99. The company has a 50-day moving average of $4.67 and a two-hundred day moving average of $5.11. The company has a market cap of $56.86 million, a PE ratio of -4.15 and a beta of 1.29.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $60.42 million during the quarter, compared to analyst estimates of $58.98 million. Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. As a group, equities research analysts forecast that Culp will post -1.09 earnings per share for the current year.

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Culp in the 3rd quarter valued at about $68,000. Essex Investment Management Co. LLC acquired a new position in Culp in the fourth quarter valued at approximately $256,000. Finally, Gate City Capital Management LLC bought a new position in Culp in the fourth quarter valued at approximately $6,010,000. 75.05% of the stock is currently 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.