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

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

Culp Stock Up 2.0 %

Shares of CULP opened at $5.13 on Thursday. The stock has a market cap of $64.07 million, a P/E ratio of -3.46 and a beta of 1.22. The business’s 50 day moving average price is $5.73 and its 200-day moving average price is $5.05. Culp has a 52 week low of $4.25 and a 52 week high of $6.85.

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

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp bought 16,128 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $5.71 per share, with a total value of $92,090.88. Following the transaction, the chief executive officer now owns 69,521 shares in the company, valued at $396,964.91. This represents a 30.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Aron R. English purchased 102,484 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were bought at an average cost of $5.85 per share, for a total transaction of $599,531.40. Following the acquisition, the insider now owns 1,456,827 shares in the company, valued at approximately $8,522,437.95. The trade was a 7.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 238,959 shares of company stock worth $1,440,336 in the last three months. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. raised its position in Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. 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.