Virco Mfg. Co. (NASDAQ:VIRC) – Equities researchers at Wedbush decreased their FY2022 EPS estimates for shares of Virco Mfg. in a research report issued to clients and investors on Wednesday, September 15th. Wedbush analyst J. Mccanless now anticipates that the company will earn $0.07 per share for the year, down from their prior estimate of $0.08.
Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Virco Mfg. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th. TheStreet raised Virco Mfg. from a “d+” rating to a “c” rating in a report on Monday, June 14th.
Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings results on Monday, September 13th. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.06). Virco Mfg. had a negative return on equity of 2.63% and a negative net margin of 0.89%. The business had revenue of $59.02 million for the quarter, compared to analyst estimates of $72.30 million.
Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Virco Mfg. by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 243,868 shares of the company’s stock worth $832,000 after buying an additional 20,749 shares during the period. BlackRock Inc. raised its stake in shares of Virco Mfg. by 3.5% in the first quarter. BlackRock Inc. now owns 100,841 shares of the company’s stock worth $313,000 after purchasing an additional 3,406 shares during the last quarter. Morgan Stanley raised its stake in shares of Virco Mfg. by 2,140,000.0% in the second quarter. Morgan Stanley now owns 21,401 shares of the company’s stock worth $73,000 after purchasing an additional 21,400 shares during the last quarter. State Street Corp purchased a new stake in shares of Virco Mfg. in the second quarter worth approximately $57,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Virco Mfg. during the first quarter valued at approximately $32,000. Institutional investors own 20.53% of the company’s stock.
Virco Mfg. Company Profile
Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.
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