Virco Manufacturing Corporation (VIRC) Stock Rating Lowered by ValuEngine
Virco Manufacturing Corporation (NASDAQ:VIRC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.
Several other brokerages have also recently weighed in on VIRC. Zacks Investment Research cut shares of Virco Manufacturing Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Wedbush reiterated an “ourperform” rating and set a $6.00 price objective on shares of Virco Manufacturing Corporation in a research report on Friday, September 15th. Finally, TheStreet upgraded shares of Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a research report on Thursday, June 22nd.
Virco Manufacturing Corporation (VIRC) opened at 5.65 on Monday. The firm’s 50-day moving average is $5.50 and its 200-day moving average is $4.87. Virco Manufacturing Corporation has a 12 month low of $3.55 and a 12 month high of $6.05. The company has a market capitalization of $86.77 million, a PE ratio of 3.99 and a beta of -0.03.
Virco Manufacturing Corporation (NASDAQ:VIRC) last posted its earnings results on Thursday, September 14th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $72.64 million for the quarter, compared to the consensus estimate of $69.33 million. Virco Manufacturing Corporation had a net margin of 11.67% and a return on equity of 6.68%. Equities analysts anticipate that Virco Manufacturing Corporation will post $0.43 EPS for the current fiscal year.
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A hedge fund recently raised its stake in Virco Manufacturing Corporation stock. D.A. Davidson & CO. grew its holdings in shares of Virco Manufacturing Corporation (NASDAQ:VIRC) by 50.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 246,723 shares of the company’s stock after buying an additional 83,250 shares during the quarter. D.A. Davidson & CO. owned 1.63% of Virco Manufacturing Corporation worth $1,319,000 at the end of the most recent reporting period. 27.43% of the stock is currently owned by institutional investors and hedge funds.
About Virco Manufacturing Corporation
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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