Virco Manufacturing Corporation (NASDAQ:VIRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Virco Mfg. Corporation designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by Virco include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses. They also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, Virco has divided the sales force into two groups: Education and Commercial. “
Other equities analysts have also issued research reports about the company. ValuEngine upgraded Virco Manufacturing Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Wedbush reiterated an “ourperform” rating and set a $6.00 target price on shares of Virco Manufacturing Corporation in a research note on Friday, September 15th.
Shares of Virco Manufacturing Corporation (NASDAQ:VIRC) remained flat at $$5.15 during midday trading on Thursday. The company had a trading volume of 1,013 shares, compared to its average volume of 9,797. The company has a market cap of $79.09, a P/E ratio of 20.00 and a beta of -0.02. The company has a quick ratio of 0.70, a current ratio of 1.48 and a debt-to-equity ratio of 0.10. Virco Manufacturing Corporation has a 12-month low of $3.55 and a 12-month high of $6.05.
Virco Manufacturing Corporation (NASDAQ:VIRC) last announced its earnings results on Thursday, September 14th. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The firm had revenue of $72.64 million for the quarter, compared to the consensus estimate of $69.33 million. Virco Manufacturing Corporation had a return on equity of 6.68% and a net margin of 11.67%. equities analysts anticipate that Virco Manufacturing Corporation will post 0.43 EPS for the current year.
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An institutional investor recently raised its position in Virco Manufacturing Corporation stock. D.A. Davidson & CO. raised its holdings in Virco Manufacturing Corporation (NASDAQ:VIRC) by 50.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,723 shares of the company’s stock after purchasing an additional 83,250 shares during the quarter. D.A. Davidson & CO. owned 1.63% of Virco Manufacturing Corporation worth $1,319,000 as of its most recent SEC filing. 27.36% of the stock is currently owned by hedge funds and other institutional investors.
Virco Manufacturing Corporation Company Profile
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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