Key Points
- Culp CEO Robert Culp IV bought 2,960 shares at an average price of $3.89, investing $11,514.40 and increasing his ownership by 2.21% to 136,919 shares. He also made two earlier purchases in July and September.
- Culp’s latest quarterly results exceeded expectations, with earnings of $0.47 per share versus the $0.44 consensus and revenue of $53.97 million. However, the company reported a negative net margin and return on equity.
- The stock opened at $3.71, with a market capitalization of approximately $47.25 million. Analyst sentiment is cautious, with a consensus rating of “Reduce” following a Zacks downgrade to “Hold.”
Culp, Inc. (NYSE:CULP - Get Free Report) CEO Robert Culp, IV acquired 2,960 shares of the business's stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $3.89 per share, for a total transaction of $11,514.40. Following the acquisition, the chief executive officer owned 136,919 shares of the company's stock, valued at $532,614.91. This represents a 2.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Robert George Iv Culp also recently made the following trade(s):
- On Friday, September 18th, Robert Culp, IV acquired 4,874 shares of Culp stock. The shares were bought at an average price of $3.78 per share, with a total value of $18,423.72.
- On Thursday, July 9th, Robert Culp, IV bought 2,768 shares of Culp stock. The stock was bought at an average price of $3.33 per share, with a total value of $9,217.44.
Culp Trading Down 3.6%
NYSE CULP opened at $3.71 on Thursday. The firm's fifty day moving average price is $3.51 and its 200 day moving average price is $3.27. Culp, Inc. has a 12 month low of $2.70 and a 12 month high of $4.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 0.79. The company has a market capitalization of $47.25 million, a price-to-earnings ratio of -4.31 and a beta of 1.19.
Culp (NYSE:CULP - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The textile maker reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. The firm had revenue of $53.97 million during the quarter, compared to analysts' expectations of $53.20 million. Culp had a negative net margin of 5.24% and a negative return on equity of 12.53%.
Analysts Set New Price Targets
Separately, Zacks Research downgraded Culp from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce".
Read Our Latest Analysis on Culp
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in Culp in the second quarter valued at $47,000. BlackRock Inc. purchased a new position in shares of Culp during the second quarter worth about $863,000. Bank of New York Mellon Corp acquired a new position in Culp in the 2nd quarter valued at about $158,000. Finally, Grace & White Inc. NY increased its position in Culp by 24.7% in the 1st quarter. Grace & White Inc. NY now owns 150,763 shares of the textile maker's stock valued at $413,000 after acquiring an additional 29,845 shares during the period. 75.05% of the stock is owned by hedge funds and other institutional investors.
About Culp
(
Get Free Report)
Culp, Inc is a manufacturer and marketer of mattress fabrics and upholstery fabrics. The company supplies textile products used by bedding manufacturers, furniture producers, and other customers in residential, commercial, hospitality, and related end markets.
Through its Mattress Fabrics segment, Culp produces knitted and woven fabrics used in mattress covers, ticking, foundations, and other bedding applications. Its Upholstery Fabrics segment provides fabrics for residential furniture as well as commercial and hospitality furnishings, offering a range of designs, textures, and performance characteristics.
Founded in 1972 and headquartered in High Point, North Carolina, Culp serves customers in the United States and international markets through manufacturing and distribution operations in multiple countries.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
