StockNews.com Initiates Coverage on Culp (NYSE:CULP)

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

Culp Stock Performance

CULP stock opened at $5.41 on Wednesday. The firm has a market cap of $67.57 million, a PE ratio of -3.81 and a beta of 1.22. The firm’s 50 day moving average price is $5.72 and its 200-day moving average price is $5.03. Culp has a one year low of $4.25 and a one year high of $6.85.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. The firm had revenue of $56.54 million for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Insider Buying and Selling at Culp

In other news, CEO Robert George Iv Culp bought 16,128 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at $396,964.91. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sharon A. Decker bought 5,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were bought at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the transaction, the director now directly owns 45,383 shares in the company, valued at $271,844.17. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert George Iv Culp acquired 16,128 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $5.71 per share, for a total transaction of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at approximately $396,964.91. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 238,959 shares of company stock valued at $1,440,336 over the last quarter. 7.30% of the stock is owned by company insiders.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. lifted its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,420 shares of the textile maker’s stock after acquiring an additional 19,640 shares during the quarter. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

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.