Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report report published on Monday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Performance

Shares of CULP stock opened at $4.69 on Monday. The firm’s 50 day moving average price is $4.43 and its 200-day moving average price is $4.80. Culp has a one year low of $4.25 and a one year high of $5.99. The firm has a market cap of $58.48 million, a P/E ratio of -4.23 and a beta of 1.22.

Culp (NYSE:CULP) last issued its quarterly earnings data on Friday, June 28th. The textile maker reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative net margin of 6.13% and a negative return on equity of 16.06%. The firm had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. During the same period in the prior year, the business posted ($0.38) EPS. As a group, research analysts predict that Culp will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Culp

Hedge funds have recently added to or reduced their stakes in the business. Gate City Capital Management LLC acquired a new stake in Culp during the 4th quarter worth approximately $6,010,000. Essex Investment Management Co. LLC purchased a new stake in shares of Culp in the 4th quarter valued at approximately $256,000. Finally, Vanguard Group Inc. increased its position in shares of Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after purchasing an additional 19,640 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

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.