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

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Stock Performance

CULP opened at $4.39 on Friday. The stock has a market capitalization of $54.74 million, a price-to-earnings ratio of -3.99 and a beta of 1.23. The company has a fifty day moving average of $4.44 and a 200 day moving average of $4.86. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $5.99.

Hedge Funds Weigh In On Culp

Several institutional investors have recently bought and sold shares of CULP. Essex Investment Management Co. LLC bought a new stake in shares of Culp in the 4th quarter worth about $256,000. Vanguard Group Inc. lifted its holdings in shares of Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after acquiring an additional 19,640 shares during the last quarter. Finally, Gate City Capital Management LLC bought a new stake in shares of Culp in the 4th quarter worth about $6,010,000. Institutional investors own 75.05% of the company’s stock.

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.