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

Stock analysts at StockNews.com initiated coverage on shares of Culp (NYSE:CULP) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

NYSE:CULP opened at $5.67 on Monday. The firm has a market capitalization of $70.70 million, a price-to-earnings ratio of -5.11 and a beta of 1.19. The company’s 50-day moving average is $5.59 and its two-hundred day moving average is $4.96. Culp has a 1-year low of $4.25 and a 1-year high of $6.85.

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

Insider Buying and Selling at Culp

In related news, major shareholder Aron R. English acquired 105,242 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were purchased 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 $10,060,600.90. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $5.71 per share, with a total value of $92,090.88. Following the purchase, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Aron R. English bought 105,242 shares of the business’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 completion of the purchase, the insider now owns 1,594,390 shares in the company, valued at $10,060,600.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 238,959 shares of company stock worth $1,440,336 in the last ninety days. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned about 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 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.