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

Culp (NYSE:CULP - Get Free Report) issued its earnings results on Wednesday. The textile maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04, Zacks reports. The company had revenue of $52.25 million for the quarter, compared to analyst estimates of $56.00 million. Culp had a negative net margin of 9.43% and a negative return on equity of 22.50%.

Culp Stock Up 2.6 %

Shares of CULP traded up $0.12 on Friday, reaching $4.52. The stock had a trading volume of 28,145 shares, compared to its average volume of 20,385. Culp has a twelve month low of $4.20 and a twelve month high of $6.85. The firm has a market capitalization of $56.70 million, a PE ratio of -2.69 and a beta of 1.06. The firm has a 50-day moving average of $5.39 and a 200 day moving average of $5.46.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Culp in a research note on Thursday. They issued a "hold" rating for the company.

Insider Buying and Selling

In other Culp news, CEO Robert George Iv Culp bought 8,508 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was purchased at an average cost of $5.42 per share, for a total transaction of $46,113.36. Following the acquisition, the chief executive officer now owns 78,029 shares of the company's stock, valued at $422,917.18. The trade was a 12.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Elizabeth Hunsberger purchased 5,000 shares of Culp stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares of the company's stock, valued at approximately $83,250. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 31,495 shares of company stock valued at $167,062. 7.30% of the stock is owned by insiders.

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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.