Culp (NYSE:CULP) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Culp (NYSE:CULPGet Rating) in a research report issued on Thursday. The brokerage set a “sell” rating on the textile maker’s stock.

Separately, TheStreet downgraded Culp from a “c-” rating to a “d” rating in a research note on Thursday, June 30th.

Culp Stock Performance

NYSE CULP opened at $4.57 on Thursday. The business has a fifty day moving average price of $4.85 and a 200 day moving average price of $5.82. Culp has a one year low of $4.04 and a one year high of $14.31. The company has a market cap of $56.10 million, a P/E ratio of -5.02 and a beta of 1.24.

Culp (NYSE:CULPGet Rating) last posted its quarterly earnings data on Wednesday, June 29th. The textile maker reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.14). Culp had a negative net margin of 4.07% and a negative return on equity of 9.13%. The firm had revenue of $56.94 million during the quarter, compared to analyst estimates of $45.97 million. As a group, sell-side analysts predict that Culp will post -0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jonathan Lee Kelly bought 17,154 shares of the business’s stock in a transaction on Monday, July 18th. The stock was acquired at an average cost of $4.67 per share, with a total value of $80,109.18. Following the purchase, the director now directly owns 24,558 shares of the company’s stock, valued at $114,685.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Culp

A number of hedge funds have recently modified their holdings of CULP. Isthmus Partners LLC grew its holdings in shares of Culp by 16.7% during the 1st quarter. Isthmus Partners LLC now owns 140,182 shares of the textile maker’s stock worth $1,113,000 after purchasing an additional 20,061 shares during the period. Brown Advisory Inc. grew its holdings in shares of Culp by 2.3% during the 1st quarter. Brown Advisory Inc. now owns 549,598 shares of the textile maker’s stock worth $4,364,000 after purchasing an additional 12,541 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Culp by 4.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 86,167 shares of the textile maker’s stock worth $684,000 after purchasing an additional 4,000 shares during the period. BlackRock Inc. grew its holdings in shares of Culp by 10.0% during the 1st quarter. BlackRock Inc. now owns 401,826 shares of the textile maker’s stock worth $3,190,000 after purchasing an additional 36,372 shares during the period. Finally, Moors & Cabot Inc. grew its holdings in shares of Culp by 14.3% during the 1st quarter. Moors & Cabot Inc. now owns 210,858 shares of the textile maker’s stock worth $1,674,000 after purchasing an additional 26,300 shares during the period. 61.72% of the stock is currently owned by hedge funds and other 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 the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.

Further Reading

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