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

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

Culp Price Performance

NYSE CULP opened at $6.47 on Thursday. The company has a 50 day simple moving average of $5.16 and a 200-day simple moving average of $4.75. The firm has a market capitalization of $80.68 million, a price-to-earnings ratio of -5.83 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 quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. The business had revenue of $49.53 million during the quarter, compared to analyst estimates of $49.76 million. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. During the same period in the prior year, the firm earned ($0.38) earnings per share.

Insider Buying and Selling

In other news, major shareholder Aron R. English acquired 22,125 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average price of $5.00 per share, for a total transaction of $110,625.00. Following the completion of the acquisition, the insider now owns 1,308,469 shares of the company’s stock, valued at approximately $6,542,345. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Aron R. English acquired 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the acquisition, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Aron R. English acquired 22,125 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $110,625.00. Following the acquisition, the insider now directly owns 1,308,469 shares of the company’s stock, valued at approximately $6,542,345. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 336,131 shares of company stock worth $1,917,524. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 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.