Virco Manufacturing Corp. (NASDAQ:VIRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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. “

Shares of Virco Manufacturing Corp. (NASDAQ:VIRC) opened at 4.20 on Tuesday. The stock has a 50 day moving average price of $4.28 and a 200-day moving average price of $3.87. Virco Manufacturing Corp. has a 52 week low of $2.84 and a 52 week high of $4.94. The firm has a market capitalization of $63.75 million, a price-to-earnings ratio of 15.67 and a beta of 0.94.

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

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in Virco Manufacturing Corp. by 0.9% in the first quarter. Renaissance Technologies LLC now owns 175,100 shares of the company’s stock worth $539,000 after buying an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp boosted 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 last quarter. Wedbush Securities Inc. boosted 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 last quarter. Finally, Vanguard Group Inc. boosted 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 last quarter. 28.21% of the stock is owned by institutional investors.

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

Get a free copy of the Zacks research report on Virco Manufacturing Corp. (VIRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Virco Manufacturing Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virco Manufacturing Corp. and related companies with MarketBeat.com's FREE daily email newsletter.