Zacks Investment Research Upgrades Virco Manufacturing Corporation (VIRC) to Hold
Zacks Investment Research upgraded shares of Virco Manufacturing Corporation (NASDAQ:VIRC) from a sell rating to a hold rating in a report issued on Thursday.
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. “
A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Virco Manufacturing Corporation from a buy rating to a hold rating in a research report on Monday, October 2nd. Wedbush reiterated an ourperform rating and issued a $6.00 target price on shares of Virco Manufacturing Corporation in a research report on Friday, September 15th.
Virco Manufacturing Corporation (NASDAQ:VIRC) opened at $5.15 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10. The firm has a market cap of $79.09, a price-to-earnings ratio of 19.81 and a beta of -0.02. Virco Manufacturing Corporation has a 12-month low of $3.55 and a 12-month high of $6.05.
Virco Manufacturing Corporation (NASDAQ:VIRC) last posted its quarterly earnings data on Thursday, September 14th. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The company had revenue of $72.64 million for the quarter, compared to analyst estimates of $69.33 million. Virco Manufacturing Corporation had a return on equity of 6.68% and a net margin of 11.67%. equities analysts predict that Virco Manufacturing Corporation will post 0.43 EPS for the current fiscal year.
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A hedge fund recently raised its stake in Virco Manufacturing Corporation stock. Northern Trust Corp lifted its position in Virco Manufacturing Corporation (NASDAQ:VIRC) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,298 shares of the company’s stock after purchasing an additional 1,760 shares during the quarter. Northern Trust Corp owned about 0.21% of Virco Manufacturing Corporation worth $167,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 27.90% of the company’s stock.
About Virco Manufacturing Corporation
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.
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