Virco Manufacturing Corporation (VIRC) Releases Earnings Results, Misses Estimates By $0.01 EPS
Virco Manufacturing Corporation (NASDAQ:VIRC) issued its earnings results on Thursday. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01), Bloomberg Earnings reports. Virco Manufacturing Corporation had a return on equity of 10.87% and a net margin of 13.47%.
Virco Manufacturing Corporation (NASDAQ VIRC) opened at 6.00 on Friday. The company has a 50 day moving average price of $5.43 and a 200-day moving average price of $4.72. The firm has a market capitalization of $91.07 million, a PE ratio of 3.89 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.
An institutional investor recently raised its position in Virco Manufacturing Corporation stock. Northern Trust Corp grew its stake in Virco Manufacturing Corporation (NASDAQ:VIRC) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,298 shares of the company’s stock after purchasing an additional 1,760 shares during the quarter. Northern Trust Corp owned about 0.21% of Virco Manufacturing Corporation worth $167,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 27.74% of the company’s stock.
VIRC has been the topic of a number of recent research reports. Zacks Investment Research cut Virco Manufacturing Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 30th. TheStreet upgraded Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a report on Thursday, June 22nd. Wedbush restated an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of Virco Manufacturing Corporation in a report on Wednesday, June 21st. Finally, ValuEngine upgraded Virco Manufacturing Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
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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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