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

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

Culp Price Performance

CULP opened at $4.56 on Friday. Culp has a fifty-two week low of $4.20 and a fifty-two week high of $5.99. The firm has a market capitalization of $56.86 million, a PE ratio of -4.15 and a beta of 1.29. The company’s 50-day moving average is $4.67 and its 200 day moving average is $5.11.

Culp (NYSE:CULP) last issued its quarterly earnings data on Wednesday, March 6th. The textile maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). Culp had a negative return on equity of 15.58% and a negative net margin of 5.75%. The company had revenue of $60.42 million for the quarter, compared to the consensus estimate of $58.98 million. As a group, analysts expect that Culp will post -1.09 EPS for the current year.

Institutional Investors Weigh In On Culp

Institutional investors have recently added to or reduced their stakes in the company. Gate City Capital Management LLC bought a new position in shares of Culp during the 4th quarter worth approximately $6,010,000. Essex Investment Management Co. LLC purchased a new position in Culp in the fourth quarter valued at approximately $256,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Culp during the 3rd quarter worth $68,000. 75.05% of the stock is owned by institutional investors.

Culp Company Profile

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.