StockNews.com assumed coverage on shares of Culp (NYSE:CULP – Free Report) in a report issued on Sunday. The brokerage issued a hold rating on the textile maker’s stock.
Culp Trading Up 1.8 %
Shares of Culp stock opened at $4.88 on Friday. The stock has a 50 day moving average of $4.78 and a 200 day moving average of $4.68. Culp has a 12 month low of $4.25 and a 12 month high of $5.99. The firm has a market cap of $60.79 million, a PE ratio of -4.39 and a beta of 1.21.
Culp (NYSE:CULP – Get Free Report) last announced its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $49.53 million during the quarter, compared to analyst estimates of $49.76 million. Culp had a negative return on equity of 16.42% and a negative net margin of 6.13%. During the same period in the prior year, the company earned ($0.38) earnings per share. As a group, equities research analysts forecast that Culp will post -0.03 earnings per share for the current fiscal year.
Insider Activity
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of CULP. Essex Investment Management Co. LLC purchased a new position in Culp during the 4th quarter worth $256,000. Gate City Capital Management LLC purchased a new position in Culp during the 4th quarter worth $6,010,000. Finally, Vanguard Group Inc. increased its holdings in Culp by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the period. 75.05% of the stock is currently owned by hedge funds and other institutional investors.
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.
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