Culp (CULP) to Release Earnings on Wednesday

Culp (NYSE:CULP – Get Rating) will issue its quarterly earnings data after the market closes on Wednesday, March 1st. Analysts expect the company to announce earnings of ($0.74) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Culp (NYSE:CULP – Get Rating) last posted its quarterly earnings data on Wednesday, December 7th. The textile maker reported ($0.99) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.11. Culp had a negative net margin of 9.37% and a negative return on equity of 20.92%. The company had revenue of $58.38 million for the quarter, compared to analysts’ expectations of $57.75 million. On average, analysts expect Culp to post $-2 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Culp Price Performance

Shares of NYSE CULP opened at $5.59 on Tuesday. Culp has a one year low of $3.94 and a one year high of $8.30. The stock has a market capitalization of $68.70 million, a P/E ratio of -2.84 and a beta of 1.25. The firm’s 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $4.90.

Insider Buying and Selling

In other Culp news, insider Thomas Bruno purchased 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was bought at an average price of $4.59 per share, with a total value of $41,310.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $45,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 11,550 shares of company stock valued at $53,040 over the last quarter. 5.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Culp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Culp by 5.2% during the first quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock valued at $330,000 after acquiring an additional 2,071 shares in the last quarter. Bragg Financial Advisors Inc bought a new position in shares of Culp during the fourth quarter valued at $46,000. HighTower Advisors LLC bought a new position in shares of Culp during the fourth quarter valued at $48,000. Engineers Gate Manager LP bought a new position in shares of Culp during the first quarter valued at $112,000. Finally, Virtu Financial LLC bought a new position in shares of Culp during the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 59.96% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Culp in a report on Tuesday, February 21st. They issued a “sell” rating on the stock.

Culp Company Profile

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Culp, Inc engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers.