StockNews.com initiated coverage on shares of Culp (NYSE:CULP – Free Report) in a research report report published on Tuesday. The brokerage issued a hold rating on the textile maker’s stock.
Culp Price Performance
Shares of CULP stock opened at $4.83 on Tuesday. The company has a fifty day moving average price of $4.88 and a two-hundred day moving average price of $4.68. Culp has a one year low of $4.25 and a one year high of $5.99. The stock has a market cap of $60.23 million, a P/E ratio of -4.32 and a beta of 1.21.
Culp (NYSE:CULP – Get Free Report) last issued its earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. The business had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. Culp had a negative net margin of 6.13% and a negative return on equity of 16.42%. During the same period last year, the business posted ($0.38) EPS.
Insider Activity at Culp
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in CULP. Essex Investment Management Co. LLC acquired a new stake in shares of Culp during the 4th quarter worth $256,000. Gate City Capital Management LLC bought a new stake in Culp during the fourth quarter worth about $6,010,000. Finally, Vanguard Group Inc. grew its stake in Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after buying an additional 19,640 shares in the last quarter. 75.05% of the stock is owned by 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.
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