Culp (NYSE:CULP) Now Covered by Analysts at StockNews.com

Posted by on Apr 26th, 2023

Analysts at StockNews.com assumed coverage on shares of Culp (NYSE:CULP – Get Rating) in a report released on Wednesday. The brokerage set a “sell” rating on the textile maker’s stock.

Culp Trading Down 0.9 %

NYSE:CULP opened at $5.28 on Wednesday. The company has a market cap of $65.00 million, a PE ratio of -1.97 and a beta of 1.24. Culp has a twelve month low of $3.94 and a twelve month high of $7.38. The company’s 50 day moving average is $5.35 and its two-hundred day moving average is $5.08.

Culp (NYSE:CULP – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The textile maker reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.06. The business had revenue of $52.52 million for the quarter, compared to the consensus estimate of $53.47 million. Culp had a negative net margin of 14.26% and a negative return on equity of 30.11%. As a group, analysts expect that Culp will post -2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Culp

Several large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Culp by 5.2% in the 1st quarter. State Street Corp now owns 41,621 shares of the textile maker’s stock valued at $330,000 after purchasing an additional 2,071 shares during the period. Moors & Cabot Inc. raised its position in Culp by 1.2% during the third quarter. Moors & Cabot Inc. now owns 213,008 shares of the textile maker’s stock worth $929,000 after acquiring an additional 2,500 shares during the period. Bragg Financial Advisors Inc acquired a new position in Culp during the fourth quarter worth $46,000. HighTower Advisors LLC acquired a new stake in shares of Culp in the fourth quarter valued at about $48,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Culp in the first quarter valued at about $112,000. 59.96% of the stock is currently owned by institutional investors and hedge funds.

About Culp

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Culp, Inc engages in the design, manufacture, and trade of mattresses and upholstery products. It operates through the Mattress Fabrics and Upholstery Fabrics segments. The Mattress Fabrics segment markets and sells covers and beddings under the Culp Home Fashions brand. The Upholstery Fabrics segment produces and supplies fabrics for residential and commercial manufacturers.

Further Reading

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