Virco Manufacturing (NASDAQ:VIRC) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Virco Manufacturing shares rose above their 200-day moving average, reaching $6.87 before trading at $6.68, up 2.3%.
• Analyst sentiment remains cautious, with ratings split between Hold and Sell and a consensus rating of “Reduce.”
• The company exceeded quarterly expectations, reporting $0.55 in earnings per share versus $0.07 expected and $87.47 million in revenue versus $72.10 million forecast; it also declared a $0.025 quarterly dividend.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.10 and traded as high as $6.87. Virco Manufacturing shares last traded at $6.68, with a volume of 57,738 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen raised Virco Manufacturing from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. Freedom Capital lowered Virco Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Virco Manufacturing in a research note on Wednesday, July 8th. 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 data from MarketBeat, Virco Manufacturing currently has a consensus rating of "Reduce".

Virco Manufacturing Trading Up 2.3%

The firm has a 50 day simple moving average of $6.10 and a 200 day simple moving average of $6.10. The company has a current ratio of 2.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $105.28 million, a PE ratio of -41.75 and a beta of 0.20.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last posted its quarterly earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.48. The firm had revenue of $87.47 million during the quarter, compared to analysts' expectations 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.025 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.5%. Virco Manufacturing's payout ratio is currently -62.50%.

Insider Buying and Selling

In related news, EVP Douglas A. Virtue bought 8,083 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was acquired at an average cost of $6.00 per share, for a total transaction of $48,498.00. Following the purchase, the executive vice president owned 888,663 shares in the company, valued at approximately $5,331,978. This represents a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have purchased 12,488 shares of company stock valued at $75,228. Insiders own 16.94% of the company's stock.

Hedge Funds Weigh In On Virco Manufacturing

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its position in shares of Virco Manufacturing by 4.9% during the 1st quarter. Empowered Funds LLC now owns 39,826 shares of the company's stock valued at $244,000 after buying an additional 1,869 shares in the last quarter. IFP Advisors Inc grew its stake in Virco Manufacturing by 101.6% during the second quarter. IFP Advisors Inc now owns 5,857 shares of the company's stock valued at $36,000 after acquiring an additional 2,952 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Virco Manufacturing during the second quarter valued at about $42,000. Park Edge Advisors LLC increased its stake in Virco Manufacturing by 60.9% in 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 during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Virco Manufacturing in the second quarter worth $332,000. Institutional investors own 30.97% of the company's stock.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, teacher furniture, computer and technology furniture, storage products, and soft-seating solutions.

The company also serves other institutional and commercial customers, including government agencies, businesses, hospitality organizations and community facilities. Virco sells its products through a combination of direct sales and independent dealers, with a focus on schools and other organizations throughout the United States.

Virco was founded in 1950 by Julian Virtue and has developed into a long-standing U.S.

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