StockNews.com Initiates Coverage on Culp (NYSE:CULP)

StockNews.com assumed coverage on shares of Culp (NYSE:CULPGet Rating) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the textile maker’s stock.

Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st.

NYSE:CULP opened at $7.70 on Friday. The firm has a market cap of $94.09 million, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock has a fifty day moving average price of $8.03 and a 200 day moving average price of $9.86. Culp has a 12-month low of $7.59 and a 12-month high of $17.75.

Culp (NYSE:CULPGet Rating) last released its earnings results on Wednesday, March 2nd. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.10). The company had revenue of $80.29 million during the quarter, compared to analysts’ expectations of $74.76 million. Culp had a net margin of 1.36% and a return on equity of 3.29%. During the same quarter last year, the business posted $0.17 earnings per share. Equities analysts anticipate that Culp will post 0.31 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of CULP. Russell Investments Group Ltd. increased its position in shares of Culp by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 457,059 shares of the textile maker’s stock worth $5,885,000 after purchasing an additional 6,188 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Culp by 0.6% during the fourth quarter. Brown Advisory Inc. now owns 537,057 shares of the textile maker’s stock worth $5,107,000 after purchasing an additional 3,036 shares in the last quarter. Barclays PLC increased its position in shares of Culp by 14.5% during the third quarter. Barclays PLC now owns 12,711 shares of the textile maker’s stock worth $164,000 after purchasing an additional 1,607 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Culp during the fourth quarter worth about $31,000. Finally, American Century Companies Inc. increased its position in shares of Culp by 26.5% during the fourth quarter. American Century Companies Inc. now owns 30,979 shares of the textile maker’s stock worth $295,000 after purchasing an additional 6,481 shares in the last quarter. Institutional investors own 71.76% of the company’s stock.

About Culp (Get Rating)

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 North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.

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