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

Research analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report released on Monday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

NYSE:CULP opened at $4.44 on Monday. The company’s 50-day simple moving average is $4.63 and its 200-day simple moving average is $5.07. Culp has a fifty-two week low of $4.20 and a fifty-two week high of $5.99. The stock has a market capitalization of $55.37 million, a P/E ratio of -4.04 and a beta of 1.27.

Culp (NYSE:CULP) last announced its 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 firm had revenue of $60.42 million during the quarter, compared to analyst estimates of $58.98 million. On average, research analysts forecast that Culp will post -1.09 EPS for the current year.

Institutional Investors Weigh In On Culp

A number of large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in shares of Culp in the 3rd quarter valued at $68,000. Essex Investment Management Co. LLC acquired a new stake in Culp during the 4th quarter worth about $256,000. Finally, Gate City Capital Management LLC purchased a new stake in Culp during the 4th quarter valued at about $6,010,000. Hedge funds and other institutional investors 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.