Culp (NYSE:CULP) Coverage Initiated at StockNews.com

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

Culp Stock Down 0.2 %

Shares of NYSE:CULP opened at $5.97 on Friday. The business’s 50 day moving average is $5.24 and its 200 day moving average is $4.79. The stock has a market cap of $74.45 million, a P/E ratio of -5.38 and a beta of 1.18. Culp has a 52-week low of $4.25 and a 52-week high of $6.77.

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 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, Director Sharon A. Decker bought 5,000 shares of the stock in a transaction on Thursday, September 26th. The stock was bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the acquisition, the director now directly owns 45,383 shares in the company, valued at $271,844.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Culp news, Director Sharon A. Decker acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was purchased at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the acquisition, the director now owns 45,383 shares in the company, valued at approximately $271,844.17. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aron R. English acquired 22,125 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average price of $5.00 per share, with a total value of $110,625.00. Following the acquisition, the insider now owns 1,308,469 shares in the company, valued at approximately $6,542,345. The disclosure for this purchase can be found here. Insiders purchased a total of 341,131 shares of company stock worth $1,947,474 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its position in Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.