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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of Culp (NYSE:CULP – Free Report) in a report published on Tuesday morning. The brokerage issued a hold rating on the textile maker’s stock.

Culp Trading Down 2.8 %

NYSE CULP opened at $5.27 on Tuesday. Culp has a 12 month low of $4.25 and a 12 month high of $6.85. The stock has a 50 day moving average of $5.68 and a 200-day moving average of $5.00. The company has a market cap of $65.82 million, a PE ratio of -3.71 and a beta of 1.19.

Culp (NYSE:CULP – Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) EPS for the quarter. The firm had revenue of $56.54 million during the quarter. Culp had a negative net margin of 7.88% and a negative return on equity of 19.51%.

Insider Buying and Selling at Culp

In other Culp news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction dated Thursday, September 19th. The stock was bought at an average cost of $6.31 per share, for a total transaction of $664,077.02. Following the purchase, the insider now owns 1,594,390 shares of the company’s stock, valued at $10,060,600.90. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Aron R. English bought 105,242 shares of Culp stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.31 per share, with a total value of $664,077.02. Following the acquisition, the insider now owns 1,594,390 shares of the company’s stock, valued at approximately $10,060,600.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Aron R. English purchased 7,652 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $5.39 per share, for a total transaction of $41,244.28. Following the purchase, the insider now owns 1,347,366 shares in the company, valued at $7,262,302.74. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 238,959 shares of company stock worth $1,440,336 over the last 90 days. Company insiders own 7.30% of the company’s stock.

Institutional Trading of Culp

A hedge fund recently raised its stake in Culp stock. Vanguard Group Inc. grew its position in shares of Culp, Inc. (NYSE:CULP – Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 approximately 3.89% of Culp worth $2,330,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

About Culp

(Get Free Report)

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.

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