Virco Manufacturing Corporation (VIRC) Announces Earnings Results, Misses Expectations By $0.01 EPS
Virco Manufacturing Corporation (NASDAQ:VIRC) posted its quarterly earnings data on Thursday. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01), Bloomberg Earnings reports. The firm had revenue of $72.64 million for the quarter, compared to analysts’ expectations of $69.33 million. Virco Manufacturing Corporation had a net margin of 11.67% and a return on equity of 6.76%.
Shares of Virco Manufacturing Corporation (NASDAQ:VIRC) opened at 5.65 on Friday. Virco Manufacturing Corporation has a 52-week low of $3.55 and a 52-week high of $6.00. The stock has a market cap of $85.76 million, a PE ratio of 3.66 and a beta of 0.12. The company’s 50-day moving average price is $5.44 and its 200-day moving average price is $4.73.
An institutional investor recently raised its position in Virco Manufacturing Corporation stock. Northern Trust Corp boosted its position in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 6.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 31,298 shares of the company’s stock after acquiring an additional 1,760 shares during the quarter. Northern Trust Corp owned about 0.21% of Virco Manufacturing Corporation worth $167,000 at the end of the most recent reporting period. 27.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on VIRC. ValuEngine upgraded Virco Manufacturing Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Virco Manufacturing Corporation from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Wednesday, July 5th. Wedbush reiterated an “ourperform” rating and set a $6.00 price objective on shares of Virco Manufacturing Corporation in a research report on Friday. Finally, TheStreet upgraded Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a research report on Thursday, June 22nd.
Virco Manufacturing Corporation Company Profile
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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