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

Stock analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Saturday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Up 1.4 %

Shares of CULP stock opened at $5.25 on Friday. The firm has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $5.11. The company has a market capitalization of $65.57 million, a PE ratio of -3.70 and a beta of 1.22. Culp has a twelve month low of $4.25 and a twelve month high of $6.85.

Culp (NYSE:CULP) last announced its earnings results 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 business had revenue of $56.54 million for the quarter.

Insider Buying and Selling at Culp

In related news, Director Sharon A. Decker purchased 5,000 shares of Culp stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $5.99 per share, with a total value of $29,950.00. Following the completion of the transaction, the director now owns 45,383 shares of the company’s stock, valued at approximately $271,844.17. This trade represents a 12.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Aron R. English acquired 7,652 shares of the stock in a transaction that occurred on 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 acquisition, the insider now owns 1,347,366 shares of the company’s stock, valued at $7,262,302.74. The trade was a 0.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 238,959 shares of company stock valued at $1,440,336 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. increased its position in shares of Culp, Inc. (NYSE:CULP) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485,420 shares of the textile maker’s stock after purchasing an additional 19,640 shares during the quarter. Vanguard Group Inc. owned 3.89% of Culp worth $2,330,000 at the end of the most recent reporting period. 75.05% of the stock is owned by institutional investors and hedge funds.

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.