Research analysts at StockNews.com initiated coverage of shares of Culp (NYSE:CULP – Get a Free Report) This is evident from a research report published on Saturday. The company placed a ‘hold’ rating on the textile manufacturer’s shares.

Culp Stock Performance

CULP stock opened at $4.29 on Friday. Culp has a 1-year low of $4.26 and a 1-year high of $5.99. The stock’s 50-day moving average price is $4.45 and its 200-day moving average price is $4.89. The company has a market cap of $53.50 million, a price-to-earnings ratio of -3.90 and a beta of 1.23.

Institutional investors are considering the debt

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC purchased a new position in shares of Culp in the fourth quarter valued at $256,000. Vanguard Group Inc. increased its position in Culp shares by 4.2% in the first quarter. Vanguard Group Inc. now owns 485,420 shares of the textile maker worth $2,330,000 after purchasing an additional 19,640 shares during the period. Finally, Gate City Capital Management LLC purchased a new position in shares of Culp during the fourth quarter valued at $6,010,000. Hedge funds and other institutional investors own 75.05% of the company’s shares.

Company profile Culp

(Get a free report)

Culp, Inc manufactures, sources, markets and sells mattress fabrics, sewn covers and custom and sewn sets for use in mattresses, foundations and other bedding products in the United States, North America, the Far East, Asia and internationally. It is active in two segments: Mattress fabrics and Furniture fabrics.

Recommended articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

Before you consider Culp, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients every day. MarketBeat has identified the five stocks that top analysts are quietly urging their clients to buy now before the broader market takes hold… and Culp wasn’t on the list.

While Culp currently has a “hold” rating among analysts, top analysts believe these five stocks are better buys.

View the five stocks here

MarketBeat analysts just released their top five short plays for June 2024. Find out which stocks have the most short interest and how to trade them. Click on the link below to see which companies are on the list.

Get this free report

Do you like this article? Share it with a colleague.

Link copied to clipboard.