Wall Street Zen Upgrades Virco Manufacturing (NASDAQ:VIRC) to Hold

Virco Manufacturing (NASDAQ:VIRC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently issued reports on VIRC. Weiss Ratings restated a “sell (d+)” rating on shares of Virco Manufacturing in a research report on Wednesday, July 8th. Freedom Capital downgraded Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Virco Manufacturing Price Performance

Shares of VIRC opened at $6.52 on Friday. The company’s 50-day moving average is $6.08 and its 200-day moving average is $6.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.71 and a quick ratio of 0.90. The firm has a market capitalization of $102.56 million, a PE ratio of -40.75 and a beta of 0.20. Virco Manufacturing has a fifty-two week low of $5.16 and a fifty-two week high of $8.90.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Friday, September 4th. The company reported $0.55 EPS for the quarter, topping 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 2.34%. The business had revenue of $87.47 million during the quarter, compared to the consensus estimate of $72.10 million.

Insider Transactions at Virco Manufacturing

In other news, CEO Robert A. Virtue acquired 4,300 shares of Virco Manufacturing stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $6.22 per share, for a total transaction of $26,746.00. Following the completion of the purchase, the chief executive officer directly owned 506,124 shares of the company’s stock, valued at approximately $3,148,091.28. This represents a 0.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Douglas A. Virtue bought 8,083 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was purchased at an average cost of $6.00 per share, for a total transaction of $48,498.00. Following the completion of the acquisition, the executive vice president owned 888,663 shares in the company, valued at approximately $5,331,978. This trade represents a 0.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 13,788 shares of company stock valued at $83,674. 16.94% of the stock is owned by insiders.

Institutional Trading of Virco Manufacturing

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Virco Manufacturing during the third quarter valued at approximately $41,000. Marquette Asset Management LLC acquired a new stake in shares of Virco Manufacturing in the 2nd quarter valued at $42,000. Barclays PLC boosted its holdings in shares of Virco Manufacturing by 16.4% in the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock valued at $113,000 after purchasing an additional 2,495 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Virco Manufacturing in the 3rd quarter valued at $158,000. Finally, Park Edge Advisors LLC increased its stake in shares of Virco Manufacturing by 60.9% in the 1st quarter. Park Edge Advisors LLC now owns 29,119 shares of the company’s stock valued at $178,000 after purchasing an additional 11,019 shares during the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

Virco Manufacturing Company Profile

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.