Virco Manufacturing (NASDAQ:VIRC) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• Virco Manufacturing shares rose above their 200-day moving average, reaching $6.44 before last trading at $6.40, modestly above the $6.15 long-term average.
• Analyst sentiment remains cautious: one analyst rated the stock “Hold” and another “Sell,” giving it an overall MarketBeat rating of “Reduce.”
• The company significantly exceeded quarterly expectations, reporting $0.55 in EPS versus a $0.07 estimate and $87.47 million in revenue versus $72.10 million expected; it also pays a $0.10 annualized dividend, yielding about 1.6%.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $6.15 and traded as high as $6.44. Virco Manufacturing shares last traded at $6.40, with a volume of 4,642 shares traded.

Wall Street Analysts Forecast Growth

VIRC has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Virco Manufacturing in a report on Friday, October 2nd. Wall Street Zen upgraded shares of Virco Manufacturing from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce".

Virco Manufacturing Stock Down 1.1%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53. The firm's 50-day moving average is $6.27 and its two-hundred day moving average is $6.15. The stock has a market cap of $100.86 million, a P/E ratio of -40.00 and a beta of 0.14.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last posted its quarterly earnings data on Friday, September 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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 return on equity of 2.32% and a negative net margin of 1.31%.

Virco Manufacturing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a dividend of $0.0250 per share. The ex-dividend date was Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.6%. Virco Manufacturing's payout ratio is presently -62.50%.

Hedge Funds Weigh In On Virco Manufacturing

Several large investors have recently made changes to their positions in VIRC. SummerHaven Investment Management LLC bought a new stake in Virco Manufacturing during the 3rd quarter worth about $374,000. IFP Advisors Inc lifted its position in Virco Manufacturing by 101.6% during the 2nd quarter. IFP Advisors Inc now owns 5,857 shares of the company's stock valued at $36,000 after purchasing an additional 2,952 shares during the period. Susquehanna International Group LLP boosted its stake in shares of Virco Manufacturing by 564.4% in the 2nd quarter. Susquehanna International Group LLP now owns 68,437 shares of the company's stock valued at $420,000 after purchasing an additional 58,137 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Virco Manufacturing in the 2nd quarter valued at about $245,000. Finally, BlackRock Inc. bought a new position in shares of Virco Manufacturing in the 2nd quarter valued at about $860,000. Institutional investors and hedge funds own 30.97% of the company's stock.

About Virco Manufacturing

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment for educational environments. Its products include classroom chairs and desks, student and activity tables, computer furniture, classroom storage, mobile carts, folding tables and chairs, and related instructional and institutional furnishings.

The company also supplies products for specialized education and institutional settings, including auditorium and cafeteria seating, activity and collaboration furniture, athletic equipment, and other equipment used in schools and public facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.