Virco Manufacturing (NASDAQ:VIRC) Downgraded to Hold Rating by Freedom Capital

Virco Manufacturing (NASDAQ:VIRC) was downgraded by equities research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings cut shares of Virco Manufacturing from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Virco Manufacturing presently has an average rating of “Reduce”.

Virco Manufacturing Price Performance

Virco Manufacturing stock opened at $5.69 on Thursday. The stock has a market cap of $89.50 million, a P/E ratio of -94.82 and a beta of 0.21. The company has a fifty day simple moving average of $6.03 and a 200-day simple moving average of $6.33. Virco Manufacturing has a 12-month low of $5.16 and a 12-month high of $9.09. The company has a current ratio of 3.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.03.

Virco Manufacturing (NASDAQ:VIRC) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $30.69 million for the quarter, compared to analysts’ expectations of $27.20 million. Virco Manufacturing had a negative return on equity of 0.16% and a negative net margin of 0.48%.

Insider Buying and Selling

In related news, EVP Douglas A. Virtue purchased 11,678 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were purchased at an average cost of $6.09 per share, for a total transaction of $71,119.02. Following the purchase, the executive vice president directly owned 877,866 shares of the company’s stock, valued at $5,346,203.94. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 22,527 shares of company stock worth $135,562. 16.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Virco Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of VIRC. Minerva Advisors LLC raised its stake in Virco Manufacturing by 6.3% during the 4th quarter. Minerva Advisors LLC now owns 1,448,198 shares of the company’s stock worth $9,254,000 after acquiring an additional 85,696 shares in the last quarter. AQR Capital Management LLC raised its stake in Virco Manufacturing by 25.7% during 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 in the last quarter. GSA Capital Partners LLP acquired a new stake in Virco Manufacturing during the 3rd quarter worth $235,000. KTF Investments LLC acquired a new stake in Virco Manufacturing during the 4th quarter worth $179,000. Finally, Trexquant Investment LP raised its stake in Virco Manufacturing by 111.0% during the 4th quarter. Trexquant Investment LP now owns 53,145 shares of the company’s stock worth $340,000 after acquiring an additional 27,963 shares in the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.

About Virco Manufacturing

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.