Culp (NYSE:CULP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a report published on Monday morning. The firm issued a hold rating on the textile maker’s stock.

Culp Stock Down 0.7 %

NYSE:CULP opened at $4.36 on Monday. The firm has a market cap of $54.37 million, a PE ratio of -3.96 and a beta of 1.27. Culp has a 12 month low of $4.20 and a 12 month high of $5.99. The company’s 50-day moving average price is $4.61 and its two-hundred day moving average price is $5.06.

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

Hedge Funds Weigh In On Culp

A number of institutional investors have recently modified their holdings of CULP. Gate City Capital Management LLC bought a new stake in shares of Culp during the fourth quarter worth approximately $6,010,000. Essex Investment Management Co. LLC bought a new stake in shares of Culp during the fourth quarter worth approximately $256,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Culp during the third quarter worth approximately $68,000. 75.05% of the stock is owned by 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.