Virco Manufacturing (NASDAQ:VIRC) Upgraded at Freedom Capital

Key Points

• Freedom Capital upgraded Virco Manufacturing (NASDAQ:VIRC) from a "hold" to a "strong-buy", though other firms are mixed (one sell, one hold), leaving the aggregate MarketBeat rating at "Moderate Buy."
• In its latest quarter Virco missed estimates, reporting ($0.45) EPS vs. a ($0.35) consensus and revenue of $26.18M versus $29.61M expected, with low reported profitability (ROE 2.18%, net margin 1.29%).
• Shares traded near $5.62 with a market cap of about $88.6M; the company has a low debt-to-equity ratio (0.03), strong liquidity (current ratio 3.09) and roughly 31% institutional ownership.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) was upgraded by investment analysts at Freedom Capital from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on VIRC. Wall Street Zen cut shares of Virco Manufacturing from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Virco Manufacturing in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Virco Manufacturing currently has an average rating of "Moderate Buy".

Virco Manufacturing Stock Up 1.8%

Shares of NASDAQ:VIRC opened at $5.62 on Thursday. Virco Manufacturing has a one year low of $5.16 and a one year high of $10.62. The company has a 50 day moving average of $6.22 and a 200-day moving average of $6.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.09 and a quick ratio of 1.80. The stock has a market cap of $88.57 million, a price-to-earnings ratio of 33.06 and a beta of 0.27.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.10). Virco Manufacturing had a return on equity of 2.18% and a net margin of 1.29%.The business had revenue of $26.18 million for the quarter, compared to analyst estimates of $29.61 million. On average, sell-side analysts forecast that Virco Manufacturing will post 1.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VIRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Virco Manufacturing during the 3rd quarter worth approximately $41,000. State of Alaska Department of Revenue bought a new position in Virco Manufacturing in the fourth quarter valued at approximately $47,000. Significant Wealth Partners LLC bought a new position in Virco Manufacturing in the third quarter valued at approximately $86,000. Barclays PLC lifted its stake in Virco Manufacturing by 16.4% in the fourth quarter. Barclays PLC now owns 17,665 shares of the company's stock valued at $113,000 after buying an additional 2,495 shares in the last quarter. Finally, Park Edge Advisors LLC lifted its stake in Virco Manufacturing by 12.9% in the fourth quarter. Park Edge Advisors LLC now owns 18,100 shares of the company's stock valued at $116,000 after buying an additional 2,072 shares in the last quarter. Institutional investors own 30.97% of the company's stock.

Virco Manufacturing Company Profile

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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