Culp (NYSE:CULP) Issues Quarterly Earnings Results

Culp (NYSE:CULP) posted its quarterly earnings data on Wednesday. The textile maker reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04, Zacks reports. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Culp Stock Performance

Shares of NYSE CULP traded up $0.08 during trading on Wednesday, reaching $5.18. The company had a trading volume of 7,389 shares, compared to its average volume of 20,016. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The business’s 50 day moving average price is $5.46 and its 200-day moving average price is $5.46. The stock has a market cap of $65.06 million, a PE ratio of -3.08 and a beta of 1.16.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Culp in a research note on Wednesday, February 26th. They issued a “hold” rating on the stock.

Insider Activity

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at approximately $83,250. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert George Iv Culp bought 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the purchase, the chief executive officer now directly owns 78,029 shares in the company, valued at approximately $422,917.18. The trade was a 12.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 31,495 shares of company stock valued at $167,062 over the last three months. 7.30% of the stock is owned by insiders.

Culp Company Profile

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.