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

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a research note issued to investors on Sunday. The firm set a “hold” rating on the textile maker’s stock.

Culp Price Performance

Shares of NYSE:CULP opened at $4.38 on Friday. The company has a market capitalization of $54.62 million, a P/E ratio of -3.98 and a beta of 1.23. Culp has a 1 year low of $4.25 and a 1 year high of $5.99. The business’s 50 day simple moving average is $4.43 and its 200 day simple moving average is $4.85.

Institutional Investors Weigh In On Culp

A number of large investors have recently added to or reduced their stakes in CULP. Gate City Capital Management LLC acquired a new stake in Culp during the fourth quarter worth approximately $6,010,000. Essex Investment Management Co. LLC bought a new stake in Culp during the fourth quarter worth $256,000. Finally, Vanguard Group Inc. lifted its stake in Culp by 4.2% during the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker’s stock worth $2,330,000 after purchasing an additional 19,640 shares during the last quarter. 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.