Virco Manufacturing (NASDAQ:VIRC) Issues Earnings Results

Virco Manufacturing (NASDAQ:VIRC) announced its quarterly earnings data on Friday. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.48, Zacks reports. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Virco Manufacturing Stock Up 5.3%

VIRC stock traded up $0.32 on Friday, hitting $6.37. 54,242 shares of the company’s stock were exchanged, compared to its average volume of 49,546. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 2.71. Virco Manufacturing has a 12-month low of $5.16 and a 12-month high of $8.90. The stock has a market cap of $100.20 million, a P/E ratio of -106.15 and a beta of 0.20. The firm has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $6.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VIRC shares. Freedom Capital downgraded shares of Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Virco Manufacturing currently has an average rating of “Reduce”.

Insider Transactions at Virco Manufacturing

In related news, EVP Douglas A. Virtue purchased 8,083 shares of Virco Manufacturing stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average price of $6.00 per share, for a total transaction of $48,498.00. Following the acquisition, the executive vice president directly owned 888,663 shares in the company, valued at approximately $5,331,978. The trade was a 0.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert A. Virtue purchased 4,300 shares of Virco Manufacturing stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $6.22 per share, with a total value of $26,746.00. Following the completion of the acquisition, the chief executive officer directly owned 506,124 shares in the company, valued at approximately $3,148,091.28. This trade represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 13,788 shares of company stock worth $83,674. 16.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Virco Manufacturing

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Virco Manufacturing during the 3rd quarter worth approximately $41,000. Barclays PLC lifted its position in Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after buying an additional 2,495 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Virco Manufacturing during the third quarter valued at approximately $158,000. Wells Fargo & Company MN raised its stake in shares of Virco Manufacturing by 18.2% in the fourth quarter. Wells Fargo & Company MN now owns 28,777 shares of the company’s stock worth $184,000 after buying an additional 4,427 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Virco Manufacturing in the 1st quarter valued at $186,000. 30.97% of the stock is currently owned by institutional investors.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.