Zacks: Analysts Set $4.00 Target Price for Virco Manufacturing Corp. (VIRC)
Shares of Virco Manufacturing Corp. (NASDAQ:VIRC) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Brokerages have set a twelve-month consensus price objective of $4.00 for the company and are expecting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Virco Manufacturing Corp. an industry rank of 199 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Virco Manufacturing Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, June 18th.
Several hedge funds have recently made changes to their positions in VIRC. Renaissance Technologies LLC raised its stake in shares of 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. Vanguard Group Inc. raised its stake in shares of 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. Wedbush Securities Inc. raised its stake in shares of 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, Bank of New York Mellon Corp raised its stake in shares of 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. 27.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Virco Manufacturing Corp. (NASDAQ:VIRC) opened at 4.35 on Thursday. The company’s 50-day moving average price is $4.23 and its 200-day moving average price is $3.98. Virco Manufacturing Corp. has a 1-year low of $2.86 and a 1-year high of $4.94. The company has a market capitalization of $66.03 million, a PE ratio of 16.23 and a beta of 0.51.
Virco Manufacturing Corp. (NASDAQ:VIRC) last released its quarterly earnings data on Wednesday, September 14th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.05. The business 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, equities analysts expect that Virco Manufacturing Corp. will post $0.36 earnings per share for the current fiscal year.
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.
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