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

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

Culp Price Performance

CULP stock opened at $4.44 on Monday. The company has a market capitalization of $55.37 million, a P/E ratio of -4.04 and a beta of 1.27. Culp has a 12 month low of $4.20 and a 12 month high of $5.99. The firm’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $5.06.

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

Institutional Investors Weigh In On Culp

Several hedge funds have recently modified their holdings of CULP. Assenagon Asset Management S.A. acquired a new position in Culp during the third quarter worth $68,000. Essex Investment Management Co. LLC purchased a new stake in shares of Culp during the fourth quarter worth about $256,000. Finally, Gate City Capital Management LLC acquired a new position in shares of Culp during the 4th quarter worth about $6,010,000. 75.05% of the stock is owned by hedge funds and other 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.