Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Wednesday, March 26th will be given a dividend of 0.025 per share on Friday, April 11th. This represents a $0.10 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, March 26th.
Virco Mfg. Stock Down 1.3 %
NASDAQ VIRC opened at $9.59 on Monday. The stock has a market cap of $156.21 million, a PE ratio of 6.19 and a beta of 0.76. Virco Mfg. has a fifty-two week low of $9.08 and a fifty-two week high of $18.50. The business has a 50 day moving average price of $10.61 and a two-hundred day moving average price of $12.61. The company has a quick ratio of 1.70, a current ratio of 2.88 and a debt-to-equity ratio of 0.03.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on VIRC shares. StockNews.com cut Virco Mfg. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Wedbush reiterated an “outperform” rating and set a $17.00 target price (down from $20.00) on shares of Virco Mfg. in a research note on Tuesday, December 10th.
Virco Mfg. declared that its board has approved a stock buyback plan on Tuesday, January 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Virco Mfg. Company Profile
Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.
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