Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

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

Culp Price Performance

Shares of NYSE CULP opened at $4.40 on Monday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $5.99. The firm has a market capitalization of $54.81 million, a P/E ratio of -3.96 and a beta of 1.22. The company’s 50 day simple moving average is $4.43 and its 200 day simple moving average is $4.81.

Culp (NYSE:CULP) last posted its quarterly earnings results on Thursday, June 27th. The textile maker reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 16.06% and a negative net margin of 6.13%. The company had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the prior year, the business posted ($0.38) EPS. Sell-side analysts expect that Culp will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Culp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new position in shares of Culp in the fourth quarter valued at approximately $256,000. Vanguard Group Inc. lifted its position in Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after acquiring an additional 19,640 shares in the last quarter. Finally, Gate City Capital Management LLC acquired a new position in Culp in the 4th quarter worth $6,010,000. 75.05% of the stock is owned by institutional investors.

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.