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

Posted by Defense World Staff on May 30th, 2024

Research analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP – Get Free Report) in a note issued to investors on Thursday. The firm set a “hold” rating on the textile maker’s stock.

Culp Trading Down 0.5 %

Shares of CULP opened at $4.41 on Thursday. The company has a market capitalization of $54.99 million, a PE ratio of -4.01 and a beta of 1.27. The stock’s 50-day moving average price is $4.52 and its two-hundred day moving average price is $4.95. Culp has a 12 month low of $4.20 and a 12 month high of $5.99.

Culp (NYSE:CULP – Get Free Report) last issued 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). Culp had a negative net margin of 5.75% and a negative return on equity of 15.58%. The firm had revenue of $60.42 million for the quarter, compared to the consensus estimate of $58.98 million. Equities research analysts predict that Culp will post -1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Culp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Culp by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock valued at $2,330,000 after buying an additional 19,640 shares in the last quarter. Gate City Capital Management LLC bought a new stake in shares of Culp during the fourth quarter valued at approximately $6,010,000. Essex Investment Management Co. LLC acquired a new position in shares of Culp during the fourth quarter worth approximately $256,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Culp during the third quarter worth approximately $68,000. 75.05% of the stock is currently owned by institutional investors.

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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