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

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

Culp Trading Up 8.0 %

Shares of NYSE CULP opened at $6.45 on Friday. The company has a fifty day moving average price of $5.24 and a 200 day moving average price of $4.79. Culp has a 1-year low of $4.25 and a 1-year high of $6.77. The firm has a market cap of $80.43 million, a PE ratio of -5.90 and a beta of 1.18.

Culp (NYSE:CULP) last posted its quarterly earnings data 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

In related news, CEO Robert George Iv Culp purchased 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, with a total value of $92,090.88. Following the transaction, the chief executive officer now directly owns 69,521 shares of the company’s stock, valued at $396,964.91. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Robert George Iv Culp purchased 16,128 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $5.71 per share, for a total transaction of $92,090.88. Following the completion of the purchase, the chief executive officer now directly owns 69,521 shares in the company, valued at approximately $396,964.91. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sharon A. Decker acquired 5,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $26,000.00. Following the completion of the purchase, the director now directly owns 30,544 shares in the company, valued at $158,828.80. The disclosure for this purchase can be found here. Insiders purchased 341,131 shares of company stock worth $1,947,474 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Culp

An institutional investor recently bought a new position in Culp stock. Gate City Capital Management LLC bought a new position in shares of Culp, Inc. (NYSE:CULP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,038,000 shares of the textile maker’s stock, valued at approximately $6,010,000. Culp comprises about 5.7% of Gate City Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Gate City Capital Management LLC owned about 8.32% of Culp 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.