Culp (NYSE:CULP) Receives New Coverage from Analysts at StockNews.com

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

Culp Stock Performance

CULP opened at $6.45 on Friday. The stock has a fifty day moving average of $5.24 and a 200-day moving average of $4.79. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.77. The company has a market capitalization of $80.43 million, a P/E ratio of -5.90 and a beta of 1.18.

Culp (NYSE:CULP) last posted 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 business had revenue of $56.54 million during the quarter.

Insider Buying and Selling

In related news, major shareholder Aron R. English purchased 22,125 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average price of $5.00 per share, for a total transaction of $110,625.00. Following the completion of the transaction, the insider now owns 1,308,469 shares of the company’s stock, valued at $6,542,345. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the transaction, the director now directly owns 45,383 shares in the company, valued at $271,844.17. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Aron R. English bought 22,125 shares of Culp stock in a transaction on Wednesday, July 10th. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $110,625.00. Following the acquisition, the insider now owns 1,308,469 shares in the company, valued at approximately $6,542,345. The disclosure for this purchase can be found here. Insiders have purchased 341,131 shares of company stock valued at $1,947,474 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.