Culp (NYSE:CULP) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research note issued on Friday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP opened at $5.97 on Friday. The business’s 50-day moving average is $5.24 and its two-hundred day moving average is $4.79. The company has a market capitalization of $74.45 million, a P/E ratio of -5.38 and a beta of 1.18. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.77.

Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. The company 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 related news, major shareholder Aron R. English purchased 22,125 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were bought at an average cost of $5.00 per share, with a total value of $110,625.00. Following the transaction, the insider now owns 1,308,469 shares of the company’s stock, valued at $6,542,345. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at $396,964.91. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Aron R. English bought 22,125 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $110,625.00. Following the completion of the transaction, the insider now directly owns 1,308,469 shares in the company, valued at $6,542,345. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 341,131 shares of company stock valued at $1,947,474. Company insiders own 6.60% of the company’s stock.

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 first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the period. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.