Virco Manufacturing (NASDAQ:VIRC) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Virco Manufacturing's stock has been rated as "Hold (C)" by Weiss Ratings, with a consensus target price of $17.00.
• The company recently reported a quarterly earnings per share of $0.70, missing expectations and achieving a net margin of 5.74% with revenue of $92.09 million.
• Institutional investors own approximately 30.97% of Virco Manufacturing's stock, with notable increases in holdings by several large investors in the first quarter.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Virco Manufacturing to a "hold" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Virco Manufacturing has a consensus rating of "Hold" and a consensus target price of $17.00.

Virco Manufacturing Price Performance

Shares of Virco Manufacturing stock traded up $0.14 during trading on Wednesday, hitting $7.07. 55,819 shares of the company were exchanged, compared to its average volume of 75,935. The company has a quick ratio of 1.38, a current ratio of 2.96 and a debt-to-equity ratio of 0.03. Virco Manufacturing has a fifty-two week low of $6.86 and a fifty-two week high of $17.31. The stock has a market capitalization of $111.42 million, a price-to-earnings ratio of 8.06 and a beta of 0.36. The firm has a 50 day moving average price of $8.09 and a 200 day moving average price of $8.49.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last issued its quarterly earnings results on Friday, September 5th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.14). Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%. The business had revenue of $92.09 million during the quarter, compared to analyst estimates of $113.80 million. On average, equities analysts expect that Virco Manufacturing will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Virco Manufacturing

Several large investors have recently bought and sold shares of the business. Minerva Advisors LLC raised its holdings in Virco Manufacturing by 4.1% in the first quarter. Minerva Advisors LLC now owns 1,210,455 shares of the company's stock worth $11,451,000 after purchasing an additional 47,866 shares during the period. Bastion Asset Management Inc. raised its holdings in Virco Manufacturing by 65.1% in the first quarter. Bastion Asset Management Inc. now owns 258,229 shares of the company's stock worth $2,443,000 after purchasing an additional 101,796 shares during the period. Nuveen LLC acquired a new stake in Virco Manufacturing in the first quarter worth $1,111,000. Arkadios Wealth Advisors acquired a new stake in Virco Manufacturing in the first quarter worth $1,112,000. Finally, American Century Companies Inc. increased its position in shares of Virco Manufacturing by 9.6% during the first quarter. American Century Companies Inc. now owns 496,456 shares of the company's stock worth $4,696,000 after acquiring an additional 43,349 shares in the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

About Virco Manufacturing

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.

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