Culp (NYSE:CULP) Research Coverage Started at StockNews.com

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

Culp Trading Down 2.4 %

Culp stock opened at $4.43 on Friday. The stock has a market cap of $55.24 million, a P/E ratio of -4.03 and a beta of 1.29. The company has a fifty day simple moving average of $4.72 and a 200-day simple moving average of $5.15. Culp has a 12-month low of $4.20 and a 12-month high of $5.99.

Culp (NYSE:CULP) last released its quarterly earnings data 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 firm had revenue of $60.42 million for the quarter, compared to analysts’ expectations of $58.98 million. Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. As a group, sell-side analysts forecast that Culp will post -1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Culp

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

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.