Virco Manufacturing (NASDAQ:VIRC) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Virco shares rose 3.9%, briefly reaching $6.31 and last trading at $6.20—just above the 200-day moving average of $6.19.
• The company reported quarterly EPS of $0.55, beating the $0.07 estimate, while revenue of $87.47 million topped analysts’ $72.10 million forecast.
• Analyst views remain cautious: one rated the stock Hold and one Sell, giving Virco a consensus rating of Reduce.

Virco Manufacturing Corporation (NASDAQ:VIRC - Get Free Report) shares passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $6.19 and traded as high as $6.31. Virco Manufacturing shares last traded at $6.20, with a volume of 22,513 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VIRC shares. Weiss Ratings restated 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 report on Saturday, September 5th. One equities research analyst has 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 Stock Up 3.9%

The company has a market capitalization of $97.71 million, a price-to-earnings ratio of -38.75 and a beta of 0.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.53 and a quick ratio of 1.43. The firm's 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $6.19.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last announced 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 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 company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.0250 dividend. The ex-dividend date was Friday, September 18th. This represents a $0.10 annualized dividend and a dividend yield of 1.6%. Virco Manufacturing's payout ratio is presently -62.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Virco Manufacturing in the 2nd quarter worth approximately $860,000. Bank of New York Mellon Corp acquired a new position in shares of Virco Manufacturing in the 2nd quarter valued at $635,000. Susquehanna International Group LLP lifted its holdings 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 buying an additional 58,137 shares during the period. SummerHaven Investment Management LLC purchased a new stake in Virco Manufacturing in the 3rd quarter valued at about $374,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Virco Manufacturing during the second quarter valued at about $332,000. 30.97% of the stock is owned by institutional investors.

About Virco Manufacturing

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, stools, computer furniture, storage products, and collaborative learning furniture.

The company serves K-12 schools, colleges and universities, government institutions, and other organizations through a network of dealers, distributors and direct sales channels. Its products are used in classrooms, libraries, cafeterias, laboratories, administrative areas and other educational or institutional settings.

Founded in 1950 by Julian Virtue, Virco has historically focused on domestic manufacturing and maintains operations associated with its long-standing U.S.

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