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

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

Culp Price Performance

Shares of NYSE:CULP opened at $4.44 on Wednesday. Culp has a 1 year low of $4.20 and a 1 year high of $5.99. The company has a market cap of $55.37 million, a P/E ratio of -4.04 and a beta of 1.27. The stock’s fifty day moving average price is $4.52 and its 200-day moving average price is $4.97.

Culp (NYSE:CULPGet Free Report) last posted its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The company had revenue of $60.42 million for 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%. On average, sell-side analysts anticipate that Culp will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Culp

Hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in shares of Culp in the 3rd quarter worth $68,000. Essex Investment Management Co. LLC purchased a new position in Culp in the fourth quarter worth about $256,000. Vanguard Group Inc. grew 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 valued at $2,330,000 after purchasing an additional 19,640 shares during the period. Finally, Gate City Capital Management LLC purchased a new stake in shares of Culp during the 4th quarter valued at about $6,010,000. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

About Culp

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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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