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

Stock analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULPGet Free Report) in a report issued on Tuesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Culp stock opened at $5.18 on Tuesday. The company’s 50 day simple moving average is $4.43 and its 200 day simple moving average is $4.77. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $5.99. The firm has a market capitalization of $64.53 million, a price-to-earnings ratio of -4.58 and a beta of 1.22.

Culp (NYSE:CULPGet Free Report) last released its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. The business had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.06%. During the same quarter last year, the firm earned ($0.38) EPS. As a group, analysts predict that Culp will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Aron R. English bought 39,248 shares of the company’s stock in a transaction on Monday, July 8th. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $186,428.00. Following the acquisition, the insider now owns 1,286,344 shares of the company’s stock, valued at approximately $6,110,134. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Culp news, major shareholder Aron R. English acquired 22,125 shares of the stock in a transaction dated Wednesday, July 10th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $110,625.00. Following the completion of the acquisition, the insider now directly owns 1,308,469 shares of the company’s stock, valued at $6,542,345. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Aron R. English acquired 39,248 shares of the stock in a transaction dated Monday, July 8th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $186,428.00. Following the completion of the acquisition, the insider now directly owns 1,286,344 shares of the company’s stock, valued at $6,110,134. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 66,373 shares of company stock worth $322,053. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC bought a new position 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 bought a new position in shares of Culp in the fourth quarter valued at $6,010,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.

About Culp

(Get Free Report)

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.

Further Reading

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