StockNews.com Begins Coverage on Culp (NYSE:CULP)

Equities research analysts at StockNews.com began coverage on shares of Culp (NYSE:CULPGet Rating) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the textile maker’s stock.

Shares of CULP opened at $5.06 on Tuesday. Culp has a fifty-two week low of $5.01 and a fifty-two week high of $17.75. The firm’s 50 day moving average price is $6.09 and its 200 day moving average price is $7.72. The company has a market cap of $61.82 million, a P/E ratio of 14.46, a PEG ratio of 1.19 and a beta of 1.13.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Keeley Teton Advisors LLC grew its holdings in Culp by 23.8% during the 1st quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock worth $3,010,000 after acquiring an additional 72,775 shares in the last quarter. State Street Corp grew its holdings in Culp by 5.2% during the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock worth $330,000 after acquiring an additional 2,071 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Culp during the 1st quarter worth approximately $112,000. Ancora Advisors LLC grew its holdings in Culp by 23.4% during the 1st quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock worth $4,295,000 after acquiring an additional 52,982 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in Culp by 14.3% during the 1st quarter. Moors & Cabot Inc. now owns 210,858 shares of the textile maker’s stock worth $1,674,000 after acquiring an additional 26,300 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

About Culp (Get Rating)

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 North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

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