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

Posted by Defense World Staff on Jul 1st, 2024

StockNews.com assumed coverage on shares of Culp (NYSE:CULP – Get Free Report) in a research report issued on Monday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

Shares of NYSE CULP opened at $4.48 on Monday. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $5.99. The firm has a market capitalization of $55.87 million, a PE ratio of -4.04 and a beta of 1.23. The stock’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $4.82.

Culp (NYSE:CULP – Get Free Report) last issued its earnings results on Thursday, June 27th. The textile maker reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. Culp had a negative return on equity of 16.06% and a negative net margin of 6.13%. The business had revenue of $49.53 million for the quarter, compared to analyst estimates of $49.76 million. During the same quarter last year, the company earned ($0.38) EPS. On average, sell-side analysts forecast that Culp will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Culp

Institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new position in Culp in the 4th quarter valued at $256,000. Gate City Capital Management LLC acquired a new position in Culp in the 4th quarter valued at $6,010,000. Finally, Vanguard Group Inc. increased its stake 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 during the period. 75.05% of the stock is owned by institutional investors and hedge funds.

Culp Company Profile

(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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