Culp (NYSE:CULP) Coverage Initiated by Analysts at StockNews.com

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

Culp Trading Up 1.9 %

CULP opened at $6.47 on Thursday. Culp has a 1-year low of $4.25 and a 1-year high of $6.77. The stock has a market capitalization of $80.68 million, a price-to-earnings ratio of -5.83 and a beta of 1.18. The business has a 50 day moving average of $5.16 and a 200-day moving average of $4.75.

Culp (NYSE:CULP) last posted its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same period in the prior year, the business earned ($0.38) earnings per share.

Insider Activity

In other news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, with a total value of $664,077.02. Following the completion of the transaction, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, with a total value of $664,077.02. Following the completion of the transaction, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon A. Decker acquired 5,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $5.20 per share, with a total value of $26,000.00. Following the completion of the acquisition, the director now owns 30,544 shares of the company’s stock, valued at approximately $158,828.80. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 336,131 shares of company stock valued at $1,917,524. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its position in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently 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.