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

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

Culp Stock Performance

Shares of NYSE CULP opened at $4.55 on Friday. Culp has a fifty-two week low of $4.20 and a fifty-two week high of $5.99. The firm has a market capitalization of $56.74 million, a PE ratio of -4.14 and a beta of 1.29. The stock’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $5.14.

Culp (NYSE:CULP) last issued its earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The business had revenue of $60.42 million for the quarter, compared to analyst estimates of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. On average, sell-side analysts forecast that Culp will post -1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the third quarter valued at approximately $68,000. Essex Investment Management Co. LLC acquired a new position in shares of Culp in the fourth quarter valued at approximately $256,000. Finally, Gate City Capital Management LLC acquired a new position in shares of Culp in the fourth quarter valued at approximately $6,010,000. Institutional investors and hedge funds 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.