Virco Manufacturing Corporation (VIRC) Upgraded by Zacks Investment Research to “Hold”
Virco Manufacturing Corporation (NASDAQ:VIRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Virco Mfg. Corporation designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by Virco include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses. They also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, Virco has divided the sales force into two groups: Education and Commercial. “
Other equities analysts also recently issued reports about the company. ValuEngine downgraded Virco Manufacturing Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Wedbush restated an “ourperform” rating and set a $6.00 price objective on shares of Virco Manufacturing Corporation in a research report on Friday, September 15th.
Virco Manufacturing Corporation (NASDAQ:VIRC) opened at $5.10 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.48 and a quick ratio of 0.70. The company has a market capitalization of $79.86, a PE ratio of 20.00 and a beta of -0.02. Virco Manufacturing Corporation has a 1 year low of $3.55 and a 1 year high of $6.05.
Virco Manufacturing Corporation (NASDAQ:VIRC) last posted its earnings results on Thursday, September 14th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $72.64 million during 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 research 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. raised its position in Virco Manufacturing Corporation (NASDAQ:VIRC) by 21.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 300,329 shares of the company’s stock after acquiring an additional 53,606 shares during the period. D.A. Davidson & CO. owned approximately 1.96% of Virco Manufacturing Corporation worth $1,651,000 as of its most recent filing with the SEC. 27.36% 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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