Virco Manufacturing Corporation (VIRC) Rating Reiterated by Wedbush
Virco Manufacturing Corporation (NASDAQ:VIRC)‘s stock had its “ourperform” rating reaffirmed by equities researchers at Wedbush in a report released on Friday. They presently have a $6.00 price objective on the stock.
VIRC has been the subject of a number of other research reports. ValuEngine raised Virco Manufacturing Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet raised Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a research 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 price objective for the company in a research report on Thursday, June 29th.
Shares of Virco Manufacturing Corporation (NASDAQ VIRC) traded down 1.67% on Friday, hitting $5.90. The stock had a trading volume of 2,272 shares. The company has a market cap of $89.56 million, a P/E ratio of 3.82 and a beta of 0.12. Virco Manufacturing Corporation has a 12 month low of $3.55 and a 12 month high of $6.00. The company’s 50 day moving average price is $5.43 and its 200-day moving average price is $4.72.
Virco Manufacturing Corporation (NASDAQ:VIRC) last posted its quarterly earnings data 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 business had revenue of $72.64 million during the quarter, compared to analyst estimates of $69.33 million. Virco Manufacturing Corporation had a return on equity of 10.87% and a net margin of 13.47%. On average, analysts expect that Virco Manufacturing Corporation will post $0.44 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of VIRC. D.A. Davidson & CO. boosted its position in shares of Virco Manufacturing Corporation by 50.9% in the 2nd quarter. D.A. Davidson & CO. now owns 246,723 shares of the company’s stock worth $1,319,000 after purchasing an additional 83,250 shares in the last quarter. Minerva Advisors LLC lifted its position in Virco Manufacturing Corporation by 0.5% during the 1st quarter. Minerva Advisors LLC now owns 1,054,426 shares of the company’s stock worth $4,165,000 after acquiring an additional 5,178 shares during the period. Finally, Northern Trust Corp lifted its position in Virco Manufacturing Corporation by 6.0% during the 2nd quarter. Northern Trust Corp now owns 31,298 shares of the company’s stock worth $167,000 after acquiring an additional 1,760 shares during the period. 27.74% of the stock is owned by hedge funds and other institutional investors.
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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