Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Stock Up 2.2 %

Shares of CULP opened at $4.91 on Tuesday. Culp has a 12-month low of $4.25 and a 12-month high of $5.99. The firm has a market capitalization of $61.17 million, a price-to-earnings ratio of -4.48 and a beta of 1.21. The stock’s 50-day moving average price is $4.89 and its 200 day moving average price is $4.68.

Culp (NYSE:CULP) last released its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. Culp had a negative return on equity of 16.42% and a negative net margin of 6.13%. During the same period in the previous year, the business earned ($0.38) earnings per share.

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English acquired 39,248 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were bought at an average cost of $4.75 per share, with a total value of $186,428.00. Following the completion of the acquisition, the insider now owns 1,286,344 shares of the company’s stock, valued at $6,110,134. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Culp news, major shareholder Aron R. English bought 13,275 shares of Culp stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $5.07 per share, with a total value of $67,304.25. Following the acquisition, the insider now directly owns 1,321,744 shares of the company’s stock, valued at $6,701,242.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Aron R. English bought 39,248 shares of Culp stock in a transaction dated Monday, July 8th. The stock was acquired at an average cost 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 in the company, valued at $6,110,134. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 102,172 shares of company stock valued at $507,138. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gate City Capital Management LLC acquired a new position in shares of Culp in the 4th quarter worth approximately $6,010,000. Essex Investment Management Co. LLC acquired a new position in shares of Culp in the 4th quarter worth approximately $256,000. Finally, Vanguard Group Inc. lifted its holdings in Culp by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after buying an additional 19,640 shares in the last quarter. 75.05% of the stock is owned by institutional investors and hedge funds.

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.