Culp (NYSE:CULP) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Down 3.1 %

Culp stock opened at $4.92 on Thursday. The stock has a 50-day simple moving average of $5.73 and a 200 day simple moving average of $5.05. Culp has a 12-month low of $4.25 and a 12-month high of $6.85. The stock has a market capitalization of $61.45 million, a price-to-earnings ratio of -3.46 and a beta of 1.22.

Culp (NYSE:CULP) last released its quarterly earnings results on Wednesday, September 4th. The textile maker reported ($0.37) earnings per share (EPS) 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 during the quarter.

Insider Activity at Culp

In other news, CEO Robert George Iv Culp purchased 16,128 shares of Culp stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $5.71 per share, with a total value of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at $396,964.91. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Aron R. English acquired 102,484 shares of the stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of $5.85 per share, for a total transaction of $599,531.40. Following the transaction, the insider now directly owns 1,456,827 shares of the company’s stock, valued at approximately $8,522,437.95. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert George Iv Culp acquired 16,128 shares of the stock in a transaction on Monday, September 9th. The shares were purchased at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 238,959 shares of company stock worth $1,440,336. 7.30% of the stock is owned by company insiders.

Institutional Trading of Culp

An institutional investor recently raised its position in Culp stock. Vanguard Group Inc. raised its position in Culp, Inc. (NYSE:CULP) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. Institutional investors own 75.05% of the company’s stock.

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.