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

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

Culp Trading Up 0.8 %

Culp stock opened at $5.07 on Thursday. The firm has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $5.05. Culp has a 1-year low of $4.25 and a 1-year high of $6.85. The firm has a market capitalization of $63.32 million, a price-to-earnings ratio of -3.57 and a beta of 1.22.

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

Insider Activity

In other Culp news, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average price of $5.99 per share, for a total transaction of $29,950.00. Following the completion of the transaction, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This represents a 12.38 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aron R. English bought 7,652 shares of Culp stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $5.39 per share, with a total value of $41,244.28. Following the completion of the transaction, the insider now owns 1,347,366 shares of the company’s stock, valued at $7,262,302.74. This represents a 0.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is owned by company insiders.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its stake in shares of Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.05% of the stock is currently 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.