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

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

Culp Stock Performance

CULP opened at $4.53 on Friday. Culp has a 1 year low of $4.20 and a 1 year high of $5.99. The company’s 50 day simple moving average is $4.66 and its 200 day simple moving average is $5.11. The stock has a market capitalization of $56.49 million, a PE ratio of -4.12 and a beta of 1.29.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in Culp in the third quarter valued at approximately $68,000. Essex Investment Management Co. LLC acquired a new stake in Culp during the 4th quarter valued at $256,000. Finally, Gate City Capital Management LLC purchased a new stake in Culp during the 4th quarter worth $6,010,000. Hedge funds and other 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.