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

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

Culp Stock Up 1.8 %

Shares of CULP opened at $4.44 on Monday. The firm has a market capitalization of $55.37 million, a PE ratio of -4.04 and a beta of 1.27. The firm has a 50-day moving average price of $4.60 and a 200 day moving average price of $5.06. Culp has a 52-week low of $4.20 and a 52-week high of $5.99.

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

Institutional Investors Weigh In On Culp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Culp in the 3rd quarter worth approximately $68,000. Essex Investment Management Co. LLC purchased a new position in Culp during the 4th quarter worth approximately $256,000. Finally, Gate City Capital Management LLC bought a new stake in Culp in the fourth quarter worth approximately $6,010,000. 75.05% of the stock is currently owned by institutional investors.

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.