Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

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

Culp Trading Down 2.2 %

Shares of CULP traded down $0.11 during trading hours on Thursday, reaching $4.92. 582 shares of the company’s stock traded hands, compared to its average volume of 20,441. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The stock has a market cap of $61.45 million, a PE ratio of -3.46 and a beta of 1.22. The firm’s 50 day simple moving average is $5.73 and its 200-day simple moving average is $5.05.

Culp (NYSE:CULP) last posted its quarterly earnings data on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share for the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%. The company had revenue of $56.54 million for the quarter.

Insider Activity

In other news, major shareholder Aron R. English acquired 7,652 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $5.39 per share, with a total value of $41,244.28. Following the completion of the purchase, the insider now owns 1,347,366 shares in the company, valued at approximately $7,262,302.74. The trade was a 0.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert George Iv Culp bought 16,128 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $5.71 per share, with a total value of $92,090.88. Following the completion of the acquisition, the chief executive officer now owns 69,521 shares of the company’s stock, valued at $396,964.91. This trade represents a 30.21 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 485,420 shares of the textile maker’s stock after buying an additional 19,640 shares during the period. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 as of its most recent SEC filing. 75.05% of the stock is owned by hedge funds and other institutional investors.

About Culp

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.