Weiss Ratings Reiterates Hold (C) Rating for Virco Manufacturing (NASDAQ:VIRC)

Key Points

• Weiss Ratings has reiterated a Hold (C) rating for Virco Manufacturing (NASDAQ: VIRC), with a consensus price target of $17.00.
• Virco's stock recently traded at $7.47, significantly lower than its 52-week high of $17.31, and the company reported earnings per share of $0.70, missing consensus estimates.
• Insider buying activities include CEO Robert A. Virtue acquiring 5,000 shares at an average price of $6.96 per share, indicating confidence in the company's future performance.

Virco Manufacturing (NASDAQ:VIRC - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

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

Virco Manufacturing Stock Performance

NASDAQ VIRC traded up $0.02 on Friday, hitting $7.47. 35,267 shares of the company's stock were exchanged, compared to its average volume of 77,001. The firm has a market cap of $117.73 million, a price-to-earnings ratio of 8.66 and a beta of 0.36. The firm's 50-day moving average price is $7.85 and its two-hundred day moving average price is $8.30. Virco Manufacturing has a fifty-two week low of $6.65 and a fifty-two week high of $17.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.96 and a quick ratio of 1.38.

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

Insider Activity at Virco Manufacturing

In related news, CEO Robert A. Virtue acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 16th. The stock was purchased at an average cost of $6.96 per share, for a total transaction of $34,800.00. Following the transaction, the chief executive officer directly owned 493,324 shares of the company's stock, valued at approximately $3,433,535.04. This trade represents a 1.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas A. Virtue acquired 13,022 shares of the business's stock in a transaction that occurred on Friday, October 17th. The shares were bought at an average price of $7.34 per share, with a total value of $95,581.48. Following the completion of the transaction, the executive vice president directly owned 861,839 shares in the company, valued at approximately $6,325,898.26. The trade was a 1.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VIRC. Arkadios Wealth Advisors acquired a new position in shares of Virco Manufacturing during the 1st quarter worth approximately $1,112,000. Nuveen LLC acquired a new position in shares of Virco Manufacturing during the 1st quarter worth approximately $1,111,000. Bastion Asset Management Inc. raised its position in shares of Virco Manufacturing by 65.1% during the 1st 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 last quarter. Minerva Advisors LLC raised its position in shares of Virco Manufacturing by 6.0% during the 2nd quarter. Minerva Advisors LLC now owns 1,283,516 shares of the company's stock worth $10,242,000 after purchasing an additional 73,061 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Virco Manufacturing by 25.7% in the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company's stock worth $3,007,000 after acquiring an additional 64,944 shares during the period. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Virco Manufacturing Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.