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

StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Saturday. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Down 2.4 %

CULP opened at $4.43 on Friday. The stock has a market cap of $55.24 million, a PE ratio of -4.03 and a beta of 1.29. The business has a 50 day moving average of $4.72 and a 200-day moving average of $5.15. Culp has a 52 week low of $4.20 and a 52 week high of $5.99.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, March 6th. The textile maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $58.98 million. Equities analysts anticipate that Culp will post -1.09 EPS for the current year.

Institutional Trading of Culp

Institutional investors and hedge funds have recently modified their holdings of the business. Gate City Capital Management LLC bought a new stake in shares of Culp in the fourth quarter worth $6,010,000. Essex Investment Management Co. LLC purchased a new position in shares of Culp in the fourth quarter valued at about $256,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Culp in the third quarter valued at about $68,000. Institutional investors own 75.05% of the company’s stock.

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.