Virco Manufacturing (NASDAQ:VIRC) Shares Pass Above 200 Day Moving Average – What’s Next?

Virco Manufacturing Corporation (NASDAQ:VIRC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.31 and traded as high as $6.56. Virco Manufacturing shares last traded at $6.48, with a volume of 55,128 shares traded.

Wall Street Analysts Forecast Growth

VIRC has been the topic of a number of recent research reports. Freedom Capital cut Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Weiss Ratings lowered Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Virco Manufacturing currently has a consensus rating of “Reduce”.

Virco Manufacturing Price Performance

The stock has a market cap of $101.93 million, a P/E ratio of -107.98 and a beta of 0.21. The firm has a 50-day moving average price of $6.02 and a 200-day moving average price of $6.31. 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 (NASDAQ:VIRC) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The company had revenue of $30.69 million for the quarter, compared to the consensus estimate of $27.20 million. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Virco Manufacturing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.10 dividend on an annualized basis and a yield of 1.5%. Virco Manufacturing’s dividend payout ratio (DPR) is currently -166.67%.

Insider Buying and Selling

In other Virco Manufacturing news, EVP Douglas A. Virtue purchased 11,678 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were acquired at an average cost of $6.09 per share, with a total value of $71,119.02. Following the completion of the acquisition, the executive vice president directly owned 877,866 shares in the company, valued at $5,346,203.94. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 22,527 shares of company stock worth $135,562 over the last quarter. 16.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Virco Manufacturing in the 3rd quarter valued at $41,000. State of Alaska Department of Revenue acquired a new position in shares of Virco Manufacturing in the 4th quarter valued at $47,000. Barclays PLC increased its position in shares of Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after acquiring an additional 2,495 shares during the period. Park Edge Advisors LLC boosted its holdings in Virco Manufacturing by 12.9% in the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company’s stock valued at $116,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Virco Manufacturing during the 1st quarter worth about $186,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.

About Virco Manufacturing

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.