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

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Down 0.2 %

Shares of CULP stock opened at $4.38 on Monday. The firm has a fifty day moving average of $4.42 and a 200-day moving average of $4.80. Culp has a 12-month low of $4.25 and a 12-month high of $5.99. The company has a market capitalization of $54.62 million, a price-to-earnings ratio of -3.95 and a beta of 1.22.

Culp (NYSE:CULP) last issued its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative net margin of 6.13% and a negative return on equity of 16.06%. The company had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. On average, equities analysts expect that Culp will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC acquired a new position in Culp during the fourth quarter worth $256,000. Vanguard Group Inc. boosted its holdings in Culp by 4.2% during the first 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 during the last quarter. Finally, Gate City Capital Management LLC acquired a new position in Culp during the fourth quarter worth $6,010,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.