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

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

Culp Stock Performance

Shares of CULP stock traded down $0.11 during midday trading on Thursday, hitting $4.92. 582 shares of the company were exchanged, compared to its average volume of 20,441. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The firm has a market capitalization of $61.45 million, a P/E ratio of -3.46 and a beta of 1.22. The firm’s 50 day moving average price is $5.73 and its two-hundred day moving average price is $5.05.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) for the quarter. The firm 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 Buying and Selling

In other news, Director Sharon A. Decker bought 5,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $5.99 per share, for a total transaction of $29,950.00. Following the transaction, the director now owns 45,383 shares of the company’s stock, valued at $271,844.17. This represents a 12.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Aron R. English purchased 105,242 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now owns 1,594,390 shares in the company, valued at approximately $10,060,600.90. The trade was a 7.07 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 238,959 shares of company stock valued at $1,440,336. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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