Culp (NYSE:CULP) Announces Earnings Results, Beats Expectations By $0.04 EPS

Culp (NYSE:CULP) issued its quarterly earnings results on Wednesday. The textile maker reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04, Zacks reports. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Culp Trading Up 1.6 %

Shares of NYSE CULP traded up $0.08 during trading on Wednesday, reaching $5.18. 7,389 shares of the company traded hands, compared to its average volume of 20,016. The stock has a market cap of $65.06 million, a P/E ratio of -3.08 and a beta of 1.16. The firm’s fifty day simple moving average is $5.46 and its 200 day simple moving average is $5.46. Culp has a 12-month low of $4.25 and a 12-month high of $6.85.

Insider Transactions at Culp

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $83,250. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert George Iv Culp acquired 8,508 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average price of $5.42 per share, with a total value of $46,113.36. Following the completion of the transaction, the chief executive officer now directly owns 78,029 shares of the company’s stock, valued at approximately $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 31,495 shares of company stock worth $167,062 over the last quarter. 7.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Culp in a research note on Wednesday, February 26th. They issued a “hold” rating on the stock.

About Culp

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.