Culp (NYSE:CULP) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research note released on Friday. The firm issued a sell rating on the textile maker’s stock.

Culp Trading Down 0.9 %

NYSE CULP opened at $5.56 on Friday. The firm has a market capitalization of $68.61 million, a price-to-earnings ratio of -2.35 and a beta of 1.28. The firm’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $5.24. Culp has a 1 year low of $3.94 and a 1 year high of $5.84.

Culp (NYSE:CULP) last posted its quarterly earnings results on Thursday, June 29th. The textile maker reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.07. The business had revenue of $61.43 million for the quarter, compared to analyst estimates of $57.04 million. Culp had a negative net margin of 12.74% and a negative return on equity of 29.71%. During the same quarter last year, the business posted ($0.49) EPS. On average, equities research analysts forecast that Culp will post -0.34 earnings per share for the current year.

Institutional Trading of Culp

A number of hedge funds have recently added to or reduced their stakes in CULP. Bragg Financial Advisors Inc acquired a new stake in Culp in the fourth quarter valued at approximately $46,000. HighTower Advisors LLC bought a new position in shares of Culp during the fourth quarter valued at $48,000. Virtu Financial LLC bought a new position in shares of Culp during the fourth quarter valued at $80,000. Engineers Gate Manager LP bought a new position in shares of Culp during the first quarter valued at $112,000. Finally, Northern Trust Corp raised its stake in shares of Culp by 15.0% during the second quarter. Northern Trust Corp now owns 29,795 shares of the textile maker’s stock valued at $148,000 after acquiring an additional 3,896 shares during the last quarter. Institutional investors and hedge funds own 53.69% 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.