StockNews.com Initiates Coverage on Culp (NYSE:CULP)

Analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report issued on Tuesday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Down 1.6 %

Shares of NYSE CULP opened at $5.39 on Tuesday. The stock has a market capitalization of $67.21 million, a PE ratio of -4.86 and a beta of 1.19. The firm has a fifty day moving average of $5.68 and a 200-day moving average of $5.00. Culp has a 52-week low of $4.25 and a 52-week high of $6.85.

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

Insiders Place Their Bets

In other news, major shareholder Aron R. English purchased 105,242 shares of the stock in a transaction dated Thursday, September 19th. The stock was 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 of the company’s stock, valued at $10,060,600.90. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Aron R. English acquired 105,242 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now directly owns 1,594,390 shares in the company, valued at $10,060,600.90. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon A. Decker bought 5,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the purchase, the director now directly owns 45,383 shares of the company’s stock, valued at $271,844.17. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 238,959 shares of company stock valued at $1,440,336 in the last quarter. 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. raised its holdings in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission. 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.