Zacks Investment Research upgraded shares of Virco Manufacturing Corp. (NASDAQ:VIRC) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Virco Mfg. Corporation designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by Virco include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses. They also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, Virco has divided the sales force into two groups: Education and Commercial. “

Virco Manufacturing Corp. (NASDAQ:VIRC) remained flat at $4.55 on Wednesday. 248 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $4.32 and its 200-day moving average price is $4.20. The company has a market capitalization of $69.07 billion, a P/E ratio of 16.85 and a beta of 0.26. Virco Manufacturing Corp. has a 52-week low of $2.86 and a 52-week high of $4.94.

Virco Manufacturing Corp. (NASDAQ:VIRC) last announced its earnings results on Wednesday, September 14th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.05. Virco Manufacturing Corp. had a net margin of 2.42% and a return on equity of 11.82%. The company earned $61.40 million during the quarter. On average, equities research analysts predict that Virco Manufacturing Corp. will post $0.36 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. increased its stake in Virco Manufacturing Corp. by 1.0% in the second quarter. Wedbush Securities Inc. now owns 1,736,025 shares of the company’s stock worth $7,552,000 after buying an additional 17,373 shares during the period. Vanguard Group Inc. increased its stake in Virco Manufacturing Corp. by 4.7% in the second quarter. Vanguard Group Inc. now owns 213,291 shares of the company’s stock worth $928,000 after buying an additional 9,608 shares during the period. Northern Trust Corp increased its stake in Virco Manufacturing Corp. by 1.2% in the third quarter. Northern Trust Corp now owns 27,141 shares of the company’s stock worth $114,000 after buying an additional 321 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Virco Manufacturing Corp. by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 25,413 shares of the company’s stock worth $110,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 27.76% of the company’s stock.

About Virco Manufacturing Corp.

Virco Mfg. Corporation (Virco) is engaged in the designing, producing and distributing of furniture for a range family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. It manufactures an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables.

5 Day Chart for NASDAQ:VIRC

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