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

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report sent to investors on Saturday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Up 1.3 %

Shares of CULP stock opened at $4.54 on Friday. The company has a 50 day moving average price of $4.73 and a 200-day moving average price of $5.16. Culp has a 52 week low of $4.20 and a 52 week high of $5.99. The firm has a market capitalization of $56.61 million, a PE ratio of -4.13 and a beta of 1.29.

Culp (NYSE:CULP) last posted its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $60.42 million during the quarter, compared to the consensus estimate of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. Analysts anticipate that Culp will post -1.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CULP. Bragg Financial Advisors Inc bought a new stake in shares of Culp during the 4th quarter valued at $46,000. HighTower Advisors LLC bought a new stake in Culp during the fourth quarter valued at about $48,000. Assenagon Asset Management S.A. purchased a new stake in Culp in the third quarter worth about $68,000. Engineers Gate Manager LP bought a new position in shares of Culp in the first quarter worth about $112,000. Finally, Virtu Financial LLC purchased a new position in shares of Culp during the 4th quarter valued at about $80,000. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.