Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

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

Culp Price Performance

Culp stock opened at $4.36 on Monday. The business has a 50 day moving average of $4.61 and a 200-day moving average of $5.06. Culp has a 1 year low of $4.20 and a 1 year high of $5.99. The company has a market capitalization of $54.37 million, a P/E ratio of -3.96 and a beta of 1.27.

Culp (NYSE:CULP) last announced its quarterly earnings results on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The business had revenue of $60.42 million during the quarter, compared to analyst estimates of $58.98 million. Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. Equities analysts anticipate that Culp will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CULP. Assenagon Asset Management S.A. bought a new stake in shares of Culp in the 3rd quarter valued at $68,000. Essex Investment Management Co. LLC acquired a new position in Culp in the fourth quarter valued at $256,000. Finally, Gate City Capital Management LLC bought a new stake in Culp during the fourth quarter valued at $6,010,000. 75.05% of the stock is owned by institutional investors and hedge funds.

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.