Zacks Investment Research downgraded shares of Virco Mfg. (NASDAQ:VIRC) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

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. “

Several other research analysts have also commented on the stock. ValuEngine upgraded shares of Virco Mfg. from a hold rating to a buy rating in a research note on Friday, September 1st. Wedbush restated an ourperform rating and set a $6.00 price target on shares of Virco Mfg. in a research note on Friday, September 15th.

Virco Mfg. (NASDAQ:VIRC) traded up $0.20 during mid-day trading on Wednesday, reaching $4.70. 8,000 shares of the company’s stock were exchanged, compared to its average volume of 10,731. Virco Mfg. has a 12 month low of $3.55 and a 12 month high of $6.05. The company has a current ratio of 2.17, a quick ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market cap of $69.11, a P/E ratio of 450.00 and a beta of -0.04.

Virco Mfg. (NASDAQ:VIRC) last released its earnings results on Thursday, December 14th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). Virco Mfg. had a return on equity of 0.58% and a net margin of 0.19%. The company had revenue of $68.79 million during the quarter, compared to analysts’ expectations of $75.90 million. analysts expect that Virco Mfg. will post 0.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.015 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.06 annualized dividend and a dividend yield of 1.28%.

A hedge fund recently raised its stake in Virco Mfg. stock. Northern Trust Corp lifted its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,298 shares of the company’s stock after purchasing an additional 1,760 shares during the quarter. Northern Trust Corp owned approximately 0.21% of Virco Mfg. worth $167,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 28.09% of the company’s stock.

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About Virco Mfg.

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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