Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Price Performance

Shares of NYSE:CULP opened at $5.05 on Monday. Culp has a 1-year low of $4.25 and a 1-year high of $5.99. The business has a fifty day moving average price of $4.85 and a 200-day moving average price of $4.68. The company has a market capitalization of $62.97 million, a PE ratio of -4.55 and a beta of 1.21.

Culp (NYSE:CULP) last issued its quarterly earnings results on Friday, June 28th. The textile maker reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 16.42% and a negative net margin of 6.13%. The firm had revenue of $49.53 million during the quarter, compared to the consensus estimate of $49.76 million. During the same period last year, the company earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Culp will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Culp news, major shareholder Aron R. English acquired 39,248 shares of Culp stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $186,428.00. Following the acquisition, the insider now owns 1,286,344 shares of the company’s stock, valued at $6,110,134. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Culp news, major shareholder Aron R. English acquired 39,248 shares of Culp stock in a transaction that occurred on Monday, July 8th. The stock was bought at an average cost of $4.75 per share, for a total transaction of $186,428.00. Following the acquisition, the insider now owns 1,286,344 shares of the company’s stock, valued at $6,110,134. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Aron R. English acquired 22,125 shares of Culp stock in a transaction that occurred on Wednesday, July 10th. The stock was acquired at an average price of $5.00 per share, with a total value of $110,625.00. Following the completion of the acquisition, the insider now directly owns 1,308,469 shares in the company, valued at approximately $6,542,345. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 102,172 shares of company stock worth $507,138. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.