Wedbush Reiterates “Ourperform” Rating for Virco Manufacturing Corporation (VIRC)

Virco Manufacturing Corporation (NASDAQ:VIRC)‘s stock had its “ourperform” rating reaffirmed by Wedbush in a note issued to investors on Friday. They currently have a $6.00 target price on the stock. Wedbush’s target price points to a potential upside of 6.19% from the company’s previous close.

VIRC has been the topic of several other reports. ValuEngine raised Virco Manufacturing Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. TheStreet raised Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research raised Virco Manufacturing Corporation from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, June 29th.

Virco Manufacturing Corporation (VIRC) opened at 5.65 on Friday. The company has a market capitalization of $85.76 million, a PE ratio of 3.66 and a beta of 0.12. Virco Manufacturing Corporation has a one year low of $3.55 and a one year high of $6.00. The firm’s 50 day moving average price is $5.44 and its 200-day moving average price is $4.73.

Virco Manufacturing Corporation (NASDAQ:VIRC) last released its earnings results on Thursday, September 14th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $72.64 million for the quarter, compared to analyst estimates of $69.33 million. Virco Manufacturing Corporation had a return on equity of 6.76% and a net margin of 11.67%. Equities analysts forecast that Virco Manufacturing Corporation will post $0.44 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Virco Manufacturing Corporation by 6.0% in the second quarter. Northern Trust Corp now owns 31,298 shares of the company’s stock valued at $167,000 after buying an additional 1,760 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Virco Manufacturing Corporation by 50.9% in the second quarter. D.A. Davidson & CO. now owns 246,723 shares of the company’s stock valued at $1,319,000 after buying an additional 83,250 shares in the last quarter. Finally, Minerva Advisors LLC boosted its stake in Virco Manufacturing Corporation by 0.5% in the first quarter. Minerva Advisors LLC now owns 1,054,426 shares of the company’s stock valued at $4,165,000 after buying an additional 5,178 shares in the last quarter. 27.74% of the stock is currently owned by institutional investors and hedge funds.

About Virco Manufacturing Corporation

Virco Mfg. Corporation (Virco) is engaged in the designing, producing and distributing of furniture for a range family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. It manufactures an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables.

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