Culp (NYSE:CULP) Releases Earnings Results, Beats Estimates By $0.04 EPS

Culp (NYSE:CULP) posted its quarterly earnings data on Wednesday. The textile maker reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04, Zacks reports. Culp had a negative return on equity of 22.50% and a negative net margin of 9.43%.

Culp Price Performance

Shares of NYSE CULP traded up $0.08 during mid-day trading on Wednesday, hitting $5.18. The company had a trading volume of 7,389 shares, compared to its average volume of 20,016. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The firm has a market cap of $65.06 million, a P/E ratio of -3.08 and a beta of 1.16. The business’s 50-day simple moving average is $5.46 and its 200-day simple moving average is $5.46.

Insider Activity at Culp

In other Culp news, insider Mary Elizabeth Hunsberger acquired 5,000 shares of Culp stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the acquisition, the insider now owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert George Iv Culp bought 8,508 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. This represents a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 31,495 shares of company stock worth $167,062 over the last three months. Company insiders own 7.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Wednesday, February 26th. They set a “hold” rating for the company.

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.