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

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULPGet Rating) in a research report issued on Friday. The firm set a “sell” rating on the textile maker’s stock.

Culp Price Performance

NYSE CULP opened at $5.31 on Friday. The firm has a market capitalization of $65.15 million, a P/E ratio of -5.84 and a beta of 1.21. Culp has a 1-year low of $3.94 and a 1-year high of $11.55. The business’s 50-day simple moving average is $4.67 and its 200-day simple moving average is $4.91.

Culp (NYSE:CULPGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The textile maker reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts expect that Culp will post -0.94 EPS for the current fiscal year.

Institutional Trading of Culp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of Culp during the second quarter worth $109,000. Engineers Gate Manager LP acquired a new position in Culp during the first quarter valued at $112,000. State Street Corp grew its stake in Culp by 5.2% in the first quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 2,071 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Culp by 4.9% in the first quarter. Oppenheimer & Co. Inc. now owns 86,167 shares of the textile maker’s stock valued at $684,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Isthmus Partners LLC grew its stake in Culp by 25.0% in the second quarter. Isthmus Partners LLC now owns 175,194 shares of the textile maker’s stock valued at $753,000 after purchasing an additional 35,012 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

Culp Company Profile

(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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