Virco Mfg. (NASDAQ:VIRC) Issues Earnings Results

Virco Mfg. (NASDAQ:VIRC) released its quarterly earnings data on Monday. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative net margin of 0.89% and a negative return on equity of 2.63%.

Shares of NASDAQ VIRC opened at $3.52 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 2.02. Virco Mfg. has a 1 year low of $1.94 and a 1 year high of $4.61. The stock’s 50-day simple moving average is $3.52 and its 200-day simple moving average is $3.37. The firm has a market cap of $56.03 million, a price-to-earnings ratio of -39.11 and a beta of 1.36.

Several equities analysts recently weighed in on VIRC shares. TheStreet upgraded shares of Virco Mfg. from a “d+” rating to a “c” rating in a report on Monday, June 14th. Zacks Investment Research raised Virco Mfg. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th.

An institutional investor recently raised its position in Virco Mfg. stock. Morgan Stanley grew its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,401 shares of the company’s stock after buying an additional 21,400 shares during the period. Morgan Stanley owned about 0.13% of Virco Mfg. worth $73,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.53% of the company’s stock.

About Virco Mfg.

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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Earnings History for Virco Mfg. (NASDAQ:VIRC)

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