Virco Manufacturing (NASDAQ:VIRC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Virco Manufacturing (NASDAQ:VIRC) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Virco Manufacturing in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Virco Manufacturing Trading Down 2.7%

VIRC stock opened at $6.55 on Friday. Virco Manufacturing has a fifty-two week low of $6.01 and a fifty-two week high of $12.09. The firm has a market cap of $103.23 million, a PE ratio of 24.26 and a beta of 0.22. The firm has a fifty day moving average price of $7.03 and a 200 day moving average price of $7.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 3.98.

Virco Manufacturing (NASDAQ:VIRC) last posted its quarterly earnings data on Monday, December 8th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.55). The firm had revenue of $47.64 million for the quarter, compared to analysts’ expectations of $85.90 million. Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%. Sell-side analysts anticipate that Virco Manufacturing will post 1.54 earnings per share for the current fiscal year.

Virco Manufacturing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be given a dividend of $0.025 per share. The ex-dividend date is Friday, December 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.5%. Virco Manufacturing’s dividend payout ratio (DPR) is currently 37.04%.

Insider Activity at Virco Manufacturing

In other Virco Manufacturing news, CEO Robert A. Virtue acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The stock was purchased at an average price of $6.96 per share, for a total transaction of $34,800.00. Following the completion of the acquisition, the chief executive officer owned 493,324 shares of the company’s stock, valued at approximately $3,433,535.04. This trade represents a 1.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas A. Virtue bought 13,022 shares of the business’s stock in a transaction dated Friday, October 17th. The shares were acquired at an average cost of $7.34 per share, for a total transaction of $95,581.48. Following the transaction, the executive vice president directly owned 861,839 shares in the company, valued at approximately $6,325,898.26. This represents a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 18.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Virco Manufacturing in the third quarter valued at $41,000. State of Wyoming acquired a new position in Virco Manufacturing during the first quarter valued at approximately $50,000. Significant Wealth Partners LLC acquired a new stake in Virco Manufacturing in the third quarter valued at approximately $86,000. Squarepoint Ops LLC purchased a new stake in shares of Virco Manufacturing during the third quarter worth about $158,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Virco Manufacturing in the first quarter worth $186,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Manufacturing Company Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.