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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a report issued on Wednesday. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Up 3.5 %

Shares of Culp stock opened at $5.64 on Wednesday. Culp has a 12 month low of $4.25 and a 12 month high of $5.99. The firm has a market capitalization of $70.33 million, a P/E ratio of -5.08 and a beta of 1.18. The business has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $4.69.

Culp (NYSE:CULP) last issued its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative net margin of 7.88% and a negative return on equity of 18.84%. The company had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same period last year, the company posted ($0.38) EPS.

Insider Activity at Culp

In related news, major shareholder Aron R. English bought 22,125 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were acquired at an average cost of $5.00 per share, with a total value of $110,625.00. Following the completion of the acquisition, the insider now owns 1,308,469 shares of the company’s stock, valued at approximately $6,542,345. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Aron R. English acquired 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 purchase, the insider now owns 1,308,469 shares in the company, valued at $6,542,345. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Aron R. English bought 13,275 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $5.07 per share, for a total transaction of $67,304.25. Following the purchase, the insider now owns 1,321,744 shares of the company’s stock, valued at approximately $6,701,242.08. The disclosure for this purchase can be found here. Insiders purchased a total of 128,405 shares of company stock valued at $653,916 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. increased its holdings in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 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.