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

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

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

Shares of Culp stock opened at $5.55 on Friday. The firm’s fifty day simple moving average is $6.89 and its 200-day simple moving average is $8.44. The stock has a market capitalization of $67.81 million, a price-to-earnings ratio of 15.86, a PEG ratio of 0.85 and a beta of 1.12. Culp has a 12 month low of $5.28 and a 12 month high of $17.75.

Culp (NYSE:CULPGet Rating) last announced its earnings results on Wednesday, March 2nd. The textile maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). The business had revenue of $80.29 million during the quarter, compared to analyst estimates of $74.76 million. Culp had a net margin of 1.36% and a return on equity of 3.29%. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, equities analysts expect that Culp will post -0.12 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. lifted its holdings in Culp by 2.3% in the 1st quarter. Brown Advisory Inc. now owns 549,598 shares of the textile maker’s stock valued at $4,364,000 after purchasing an additional 12,541 shares in the last quarter. Wasatch Advisors Inc. grew its position in Culp by 36.7% in the third quarter. Wasatch Advisors Inc. now owns 501,918 shares of the textile maker’s stock valued at $6,465,000 after acquiring an additional 134,744 shares in the last quarter. BlackRock Inc. grew its position in Culp by 10.0% in the first quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock valued at $3,190,000 after acquiring an additional 36,372 shares in the last quarter. Keeley Teton Advisors LLC boosted its stake in shares of Culp by 23.8% during the 1st quarter. Keeley Teton Advisors LLC now owns 379,111 shares of the textile maker’s stock valued at $3,010,000 after buying an additional 72,775 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in Culp by 11.5% during the third quarter. Ancora Advisors LLC now owns 304,299 shares of the textile maker’s stock worth $3,919,000 after purchasing an additional 31,395 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors.

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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