Virco Manufacturing (NASDAQ:VIRC) Stock Rating Upgraded by Wall Street Zen

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

VIRC has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Virco Manufacturing in a report on Wednesday, July 8th. Freedom Capital downgraded Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

View Our Latest Stock Report on Virco Manufacturing

Virco Manufacturing Stock Performance

VIRC opened at $6.52 on Friday. The firm has a market cap of $102.56 million, a P/E ratio of -108.65 and a beta of 0.20. Virco Manufacturing has a 1-year low of $5.16 and a 1-year high of $8.90. The company has a 50 day simple moving average of $6.08 and a two-hundred day simple moving average of $6.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.71 and a quick ratio of 0.90.

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) last announced its quarterly earnings data on Friday, September 4th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.07 by $0.48. The firm had revenue of $87.47 million for the quarter, compared to the consensus estimate of $72.10 million. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Insider Buying and Selling at Virco Manufacturing

In related news, CEO Robert A. Virtue purchased 4,300 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $6.22 per share, for a total transaction of $26,746.00. Following the purchase, the chief executive officer directly owned 506,124 shares in the company, valued at $3,148,091.28. This trade represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas A. Virtue acquired 8,083 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average cost of $6.00 per share, with a total value 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 disclosure for this purchase is available in the SEC filing. Insiders bought 13,788 shares of company stock worth $83,674 in the last three months. Insiders own 16.94% of the company’s stock.

Institutional Investors Weigh In On Virco Manufacturing

Several large investors have recently made changes to their positions in VIRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Virco Manufacturing during the third quarter valued at approximately $41,000. Marquette Asset Management LLC bought a new stake in Virco Manufacturing in the 2nd quarter worth approximately $42,000. Barclays PLC increased its stake 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 acquiring an additional 2,495 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Virco Manufacturing during the 3rd quarter worth approximately $158,000. Finally, Park Edge Advisors LLC raised its holdings in shares of Virco Manufacturing by 60.9% during the 1st quarter. Park Edge Advisors LLC now owns 29,119 shares of the company’s stock worth $178,000 after acquiring an additional 11,019 shares in the last quarter. 30.97% of the stock is owned by institutional investors.

About Virco Manufacturing

(Get Free Report)

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.

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