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

Stock analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report released on Thursday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Price Performance

NYSE:CULP opened at $5.13 on Thursday. The firm has a market capitalization of $64.07 million, a price-to-earnings ratio of -3.46 and a beta of 1.22. The business has a fifty day moving average price of $5.73 and a 200-day moving average price of $5.05. Culp has a one year low of $4.25 and a one year high of $6.85.

Culp (NYSE:CULP) last announced its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The company had revenue of $56.54 million for the quarter.

Insider Buying and Selling at Culp

In related news, Director Sharon A. Decker purchased 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the purchase, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 12.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Aron R. English acquired 105,242 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $6.31 per share, with a total value of $664,077.02. Following the transaction, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 238,959 shares of company stock valued at $1,440,336 over the last ninety days. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its stake in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 75.05% of the company’s stock.

Culp Company Profile

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.