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

StockNews.com assumed coverage on shares of Culp (NYSE:CULPGet Free Report) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Shares of NYSE CULP opened at $4.54 on Friday. The stock has a market capitalization of $56.61 million, a PE ratio of -4.13 and a beta of 1.29. Culp has a one year low of $4.20 and a one year high of $5.99. The business’s fifty day moving average price is $4.73 and its 200-day moving average price is $5.16.

Culp (NYSE:CULPGet Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The firm had revenue of $60.42 million during the quarter, compared to the consensus estimate of $58.98 million. Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. As a group, equities analysts expect that Culp will post -1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bragg Financial Advisors Inc purchased a new stake in shares of Culp during the fourth quarter worth $46,000. HighTower Advisors LLC purchased a new stake in Culp during the 4th quarter worth about $48,000. Assenagon Asset Management S.A. bought a new position in Culp in the 3rd quarter worth about $68,000. Virtu Financial LLC purchased a new position in Culp during the 4th quarter valued at about $80,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Culp during the first quarter valued at about $112,000. 75.05% of the stock is owned by institutional investors.

Culp Company Profile

(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.

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