Culp (NYSE:CULP) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Culp (NYSE:CULPGet Rating) in a research report report published on Friday morning. The brokerage issued a sell rating on the textile maker’s stock.

Culp Trading Down 2.4 %

Shares of CULP stock opened at $5.31 on Friday. The company has a market cap of $65.15 million, a price-to-earnings ratio of -5.84 and a beta of 1.21. The stock has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $4.91. Culp has a 12-month low of $3.94 and a 12-month high of $11.55.

Culp (NYSE:CULPGet Rating) last issued its earnings results on Wednesday, August 31st. The textile maker reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.16). Culp had a negative return on equity of 9.13% and a negative net margin of 4.07%. The business had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $55.21 million. On average, equities analysts forecast that Culp will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Culp

Several hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in Culp by 2.3% in the 1st quarter. Brown Advisory Inc. now owns 549,598 shares of the textile maker’s stock valued at $4,364,000 after purchasing an additional 12,541 shares in the last quarter. BlackRock Inc. increased its position in Culp by 10.0% during the first quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock worth $3,190,000 after buying an additional 36,372 shares in the last quarter. Keeley Teton Advisors LLC increased its position in Culp by 23.8% during the first quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock worth $3,010,000 after buying an additional 72,775 shares in the last quarter. Ancora Advisors LLC increased its position in Culp by 23.4% during the first quarter. Ancora Advisors LLC now owns 279,074 shares of the textile maker’s stock worth $4,295,000 after buying an additional 52,982 shares in the last quarter. Finally, Grace & White Inc. NY increased its position in Culp by 21.9% during the third quarter. Grace & White Inc. NY now owns 217,484 shares of the textile maker’s stock worth $948,000 after buying an additional 39,057 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

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 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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