Culp (NYSE:CULP) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research report issued on Saturday. The brokerage set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

CULP stock opened at $4.29 on Friday. Culp has a one year low of $4.26 and a one year high of $5.99. The firm has a market capitalization of $53.50 million, a PE ratio of -3.90 and a beta of 1.23. The firm has a 50-day moving average of $4.45 and a two-hundred day moving average of $4.89.

Hedge Funds Weigh In On Culp

Large investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in shares of Culp in the 4th quarter valued at about $256,000. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 19,640 shares during the period. Finally, Gate City Capital Management LLC acquired a new position in shares of Culp in the 4th quarter valued at about $6,010,000. Institutional investors and hedge funds own 75.05% of the company’s stock.

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.