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

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

Culp Price Performance

Shares of NYSE:CULP opened at $5.16 on Friday. The business’s 50-day moving average is $5.68 and its 200 day moving average is $5.07. Culp has a 1 year low of $4.25 and a 1 year high of $6.85. The firm has a market capitalization of $64.45 million, a P/E ratio of -3.63 and a beta of 1.22.

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

Insider Transactions at Culp

In other news, major shareholder Aron R. English bought 105,242 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the completion of the transaction, the insider now directly owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. This represents a 7.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert George Iv Culp purchased 16,128 shares of Culp stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $5.71 per share, with a total value of $92,090.88. Following the completion of the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at $396,964.91. The trade was a 30.21 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 238,959 shares of company stock worth $1,440,336. Company insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. lifted its stake in Culp, Inc. (NYSE:CULP) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the quarter. Vanguard Group Inc. owned approximately 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is owned by hedge funds and other institutional investors.

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.