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

StockNews.com assumed coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Thursday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Shares of NYSE CULP opened at $6.17 on Thursday. The stock’s 50-day moving average is $5.11 and its two-hundred day moving average is $4.73. Culp has a 1-year low of $4.25 and a 1-year high of $6.20. The company has a market cap of $76.94 million, a price-to-earnings ratio of -5.56 and a beta of 1.18.

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, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 19.51% and a negative net margin of 7.88%. The company had revenue of $49.53 million for the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the prior year, the business earned ($0.38) EPS.

Insider Activity

In other Culp news, major shareholder Aron R. English acquired 22,125 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average price of $5.00 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Aron R. English purchased 7,652 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $5.39 per share, for a total transaction of $41,244.28. Following the purchase, the insider now directly owns 1,347,366 shares of the company’s stock, valued at approximately $7,262,302.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Aron R. English purchased 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 purchase, the insider now directly owns 1,308,469 shares in the company, valued at $6,542,345. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 128,405 shares of company stock worth $653,916. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. boosted its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the first quarter, according to its most recent 13F filing 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 about 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 owned by 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.