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

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULPGet Free Report) in a note issued to investors on Friday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Up 0.5 %

Culp stock opened at $4.38 on Friday. The business has a fifty day moving average of $4.49 and a two-hundred day moving average of $4.92. The firm has a market cap of $54.62 million, a P/E ratio of -3.98 and a beta of 1.23. Culp has a twelve month low of $4.28 and a twelve month high of $5.99.

Culp (NYSE:CULPGet Free Report) last posted its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. The company had revenue of $60.42 million for the quarter, compared to analysts’ expectations of $58.98 million. Equities analysts expect that Culp will post -1.13 earnings per share for the current year.

Institutional Trading of Culp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the 3rd quarter valued at $68,000. Vanguard Group Inc. grew its position in Culp by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Culp during the 4th quarter worth about $256,000. Finally, Gate City Capital Management LLC acquired a new stake in Culp during the 4th quarter worth about $6,010,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Culp Company Profile

(Get Free Report)

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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