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

Investment 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 NYSE:CULP opened at $4.60 on Friday. The firm has a market cap of $57.36 million, a PE ratio of -4.18 and a beta of 1.29. The firm’s fifty day moving average is $4.69 and its 200-day moving average is $5.13. Culp has a 52 week low of $4.20 and a 52 week high of $5.99.

Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, March 6th. The textile maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The business had revenue of $60.42 million for the quarter, compared to analyst estimates of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. Sell-side analysts forecast that Culp will post -1.09 EPS for the current year.

Hedge Funds Weigh In On Culp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Culp in the third quarter valued at $68,000. Essex Investment Management Co. LLC bought a new stake in Culp in the fourth quarter valued at $256,000. Finally, Gate City Capital Management LLC bought a new stake in Culp in the fourth quarter valued at $6,010,000. 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.