Virco Manufacturing (NASDAQ:VIRC) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

Virco Manufacturing Corporation (NASDAQ:VIRC)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $6.19 and traded as high as $6.31. Virco Manufacturing shares last traded at $6.20, with a volume of 22,513 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VIRC shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Virco Manufacturing in a research report on Friday, October 2nd. Wall Street Zen raised shares of Virco Manufacturing from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Virco Manufacturing Trading Up 3.9%

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.53 and a quick ratio of 1.43. The company has a market cap of $97.71 million, a PE ratio of -38.75 and a beta of 0.18. The company’s 50 day simple moving average is $6.33 and its two-hundred day simple moving average is $6.19.

Virco Manufacturing (NASDAQ:VIRC) last posted its earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.48. Virco Manufacturing had a negative net margin of 1.31% and a negative return on equity of 2.32%. The firm had revenue of $87.47 million during the quarter, compared to the consensus estimate of $72.10 million.

Virco Manufacturing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 18th were paid a dividend of $0.0250 per share. This represents a $0.10 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 18th. Virco Manufacturing’s dividend payout ratio is presently -62.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VIRC. SummerHaven Investment Management LLC purchased a new stake in shares of Virco Manufacturing during the 3rd quarter worth $374,000. IFP Advisors Inc boosted its holdings in Virco Manufacturing by 101.6% in the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock valued at $36,000 after purchasing an additional 2,952 shares in the last quarter. Susquehanna International Group LLP increased its stake in Virco Manufacturing by 564.4% in the second quarter. Susquehanna International Group LLP now owns 68,437 shares of the company’s stock valued at $420,000 after purchasing an additional 58,137 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Virco Manufacturing during the 2nd quarter worth approximately $245,000. Finally, BlackRock Inc. purchased a new position in shares of Virco Manufacturing during the second quarter worth about $860,000. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, stools, computer furniture, storage products, and collaborative learning furniture.

The company serves K-12 schools, colleges and universities, government institutions, and other organizations through a network of dealers, distributors and direct sales channels. Its products are used in classrooms, libraries, cafeterias, laboratories, administrative areas and other educational or institutional settings.

Founded in 1950 by Julian Virtue, Virco has historically focused on domestic manufacturing and maintains operations associated with its long-standing U.S.