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

Stock analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Friday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Trading Up 0.2 %

Shares of CULP opened at $5.98 on Friday. The stock’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $4.78. Culp has a twelve month low of $4.25 and a twelve month high of $6.77. The firm has a market capitalization of $74.57 million, a P/E ratio of -5.39 and a beta of 1.18.

Culp (NYSE:CULP) last issued its earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The business had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $49.76 million. During the same quarter in the previous year, the business earned ($0.38) EPS.

Insider Activity at Culp

In related news, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the acquisition, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Culp news, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $6.31 per share, with a total value of $664,077.02. Following the completion of the transaction, the insider now owns 1,594,390 shares in the company, valued at $10,060,600.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon A. Decker purchased 5,000 shares of Culp stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $5.20 per share, with a total value of $26,000.00. Following the acquisition, the director now directly owns 30,544 shares of the company’s stock, valued at approximately $158,828.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 336,131 shares of company stock worth $1,917,524. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC bought a new position in shares of Culp, Inc. (NYSE:CULP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp accounts for approximately 5.7% of Gate City Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Gate City Capital Management LLC owned 8.32% of Culp as of its most recent SEC filing. Institutional investors and hedge funds 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.