Culp (NYSE:CULP) Stock Crosses Above 200-Day Moving Average of $4.69

Culp, Inc. (NYSE:CULP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.69 and traded as high as $5.87. Culp shares last traded at $5.51, with a volume of 43,317 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Culp in a research report on Wednesday. They issued a “hold” rating on the stock.

Culp Price Performance

The company has a 50-day moving average of $5.02 and a two-hundred day moving average of $4.70. The company has a market capitalization of $72.58 million, a PE ratio of -5.24 and a beta of 1.18.

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

Insider Buying and Selling

In related news, CEO Robert George Iv Culp acquired 16,128 shares of Culp stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Aron R. English bought 7,652 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $5.39 per share, for a total transaction of $41,244.28. Following the completion of the transaction, the insider now owns 1,347,366 shares of the company’s stock, valued at $7,262,302.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp purchased 16,128 shares of the company’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 completion of the purchase, the chief executive officer now owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 128,405 shares of company stock valued at $653,916. 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. lifted its holdings in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to the company in 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 period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 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.