StockNews.com started coverage on shares of Culp (NYSE:CULP – Free Report) in a research note published on Friday. The firm issued a hold rating on the textile maker’s stock.
Culp Stock Down 6.4 %
Shares of NYSE:CULP opened at $4.65 on Friday. The company has a market cap of $57.99 million, a P/E ratio of -4.19 and a beta of 1.21. Culp has a 52 week low of $4.25 and a 52 week high of $5.99. The company has a 50-day moving average price of $4.70 and a 200 day moving average price of $4.71.
Culp (NYSE:CULP – Get Free Report) last announced its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The firm had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.42%. During the same quarter last year, the firm earned ($0.38) earnings per share. Analysts expect that Culp will post -0.03 EPS for the current year.
Insider Buying and Selling at Culp
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CULP. Gate City Capital Management LLC purchased a new position in shares of Culp during the 4th quarter worth approximately $6,010,000. Essex Investment Management Co. LLC purchased a new position in shares of Culp during the 4th quarter worth approximately $256,000. Finally, Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 19,640 shares in the last quarter. 75.05% of the stock is owned by hedge funds and other 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.
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