Wall Street Zen Downgrades Virco Manufacturing (NASDAQ:VIRC) to Sell

by · The Markets Daily

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

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

Get Our Latest Stock Analysis on Virco Manufacturing

Virco Manufacturing Stock Performance

Shares of VIRC stock opened at $6.73 on Friday. The company has a current ratio of 3.98, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. Virco Manufacturing has a 12-month low of $6.01 and a 12-month high of $12.09. The business’s 50 day moving average is $7.05 and its two-hundred day moving average is $7.76. The company has a market capitalization of $106.06 million, a P/E ratio of 24.93 and a beta of 0.22.

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) last announced its earnings results on Monday, December 8th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.55). Virco Manufacturing had a return on equity of 3.33% and a net margin of 1.91%.The business had revenue of $47.64 million for the quarter, compared to analyst estimates of $85.90 million. Analysts expect that Virco Manufacturing will post 1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Virco Manufacturing news, CEO Robert A. Virtue purchased 5,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were purchased at an average cost of $6.96 per share, for a total transaction of $34,800.00. Following the completion of the transaction, the chief executive officer owned 493,324 shares of the company’s stock, valued at $3,433,535.04. The trade was a 1.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Douglas A. Virtue acquired 13,022 shares of the business’s stock in a transaction on Friday, October 17th. The stock was acquired at an average price of $7.34 per share, with a total value of $95,581.48. Following the acquisition, the executive vice president owned 861,839 shares in the company, valued at $6,325,898.26. The trade was a 1.53% increase in their position. The SEC filing for this purchase provides additional information. 18.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Virco Manufacturing

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Virco Manufacturing in the third quarter valued at approximately $41,000. Two Sigma Investments LP grew its holdings in Virco Manufacturing by 41.4% in the 3rd quarter. Two Sigma Investments LP now owns 29,481 shares of the company’s stock valued at $228,000 after buying an additional 8,628 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Virco Manufacturing by 5.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 91,962 shares of the company’s stock worth $713,000 after acquiring an additional 4,741 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Virco Manufacturing during the 3rd quarter worth $158,000. Finally, Minerva Advisors LLC boosted its position in shares of Virco Manufacturing by 6.2% during the 3rd quarter. Minerva Advisors LLC now owns 1,362,502 shares of the company’s stock valued at $10,559,000 after acquiring an additional 78,986 shares during the last quarter. 30.97% of the stock is currently owned by hedge funds and other institutional investors.

About Virco Manufacturing

(Get Free Report)

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.

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