Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Culp (NYSE:CULP) 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) 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

In related news, Director Sharon A. Decker bought 5,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the purchase, the director now owns 30,544 shares in the company, valued at approximately $158,828.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Aron R. English acquired 22,125 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were purchased at an average cost of $5.00 per share, with a total value of $110,625.00. Following the acquisition, the insider now directly owns 1,308,469 shares in the company, valued at approximately $6,542,345. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the transaction, the director now directly owns 30,544 shares in the company, valued at $158,828.80. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 102,172 shares of company stock worth $507,138. Company insiders own 6.60% of the company’s stock.

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.