Wedbush Analysts Give Virco Mfg. (NASDAQ:VIRC) a $8.00 Price Target

Wedbush set a $8.00 target price on Virco Mfg. (NASDAQ:VIRCGet Rating) in a research note issued to investors on Monday morning, Stock Target Advisor reports.

Separately, TheStreet lowered shares of Virco Mfg. from a c- rating to a d+ rating in a report on Friday, April 22nd.

Virco Mfg. stock opened at $3.96 on Monday. The firm has a 50-day moving average price of $3.10 and a 200-day moving average price of $3.06. The firm has a market capitalization of $63.76 million, a PE ratio of -3.88 and a beta of 1.20. The company has a current ratio of 1.52, a quick ratio of 0.30 and a debt-to-equity ratio of 0.34. Virco Mfg. has a 12-month low of $2.63 and a 12-month high of $4.17.

Virco Mfg. (NASDAQ:VIRCGet Rating) last released its earnings results on Thursday, April 21st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.79). The firm had revenue of $40.11 million during the quarter, compared to the consensus estimate of $37.50 million. Virco Mfg. had a negative return on equity of 31.63% and a negative net margin of 8.65%. As a group, sell-side analysts predict that Virco Mfg. will post 0.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Shufro Rose & Co. LLC bought a new stake in Virco Mfg. during the 1st quarter valued at about $37,000. Wilen Investment Management CORP. purchased a new position in Virco Mfg. during the 1st quarter valued at about $67,000. Wedbush Securities Inc. increased its position in Virco Mfg. by 119.5% during the 1st quarter. Wedbush Securities Inc. now owns 49,600 shares of the company’s stock valued at $148,000 after purchasing an additional 27,000 shares during the period. Vanguard Group Inc. increased its position in Virco Mfg. by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 195,140 shares of the company’s stock valued at $583,000 after purchasing an additional 4,333 shares during the period. Finally, Minerva Advisors LLC increased its position in Virco Mfg. by 1.9% during the 4th quarter. Minerva Advisors LLC now owns 875,628 shares of the company’s stock valued at $2,626,000 after purchasing an additional 16,182 shares during the period. Institutional investors own 19.24% of the company’s stock.

Virco Mfg. Company Profile (Get Rating)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, tablet armchairs with work surfaces and compact footprints, steel-frame and floor rockers, stools, series chairs, stack and folding chairs, hard plastic seating, upholstered stack and ergonomic chairs, and plastic stack chairs.

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