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

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

Culp Stock Performance

Shares of Culp stock opened at $6.00 on Friday. The firm has a 50-day moving average of $5.45 and a 200-day moving average of $4.91. Culp has a 52-week low of $4.25 and a 52-week high of $6.85. The stock has a market cap of $74.82 million, a PE ratio of -5.41 and a beta of 1.19.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The business had revenue of $56.54 million during the quarter.

Insider Transactions at Culp

In related news, Director Sharon A. Decker purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the purchase, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Culp news, major shareholder Aron R. English bought 7,652 shares of Culp stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $5.39 per share, with a total value of $41,244.28. Following the acquisition, the insider now owns 1,347,366 shares in the company, valued at $7,262,302.74. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon A. Decker purchased 5,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were acquired at an average cost of $5.99 per share, with a total value of $29,950.00. Following the acquisition, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 251,780 shares of company stock valued at $1,507,759. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. Institutional investors own 75.05% of the company’s stock.

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.