Virco Manufacturing Corporation (NASDAQ:VIRC) Upgraded to Buy at ValuEngine

Virco Manufacturing Corporation (NASDAQ:VIRC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, September 1st.

VIRC has been the subject of a number of other reports. Zacks Investment Research raised Virco Manufacturing Corporation from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday, July 5th. Wedbush reissued an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of Virco Manufacturing Corporation in a research note on Wednesday, June 21st. Finally, TheStreet raised Virco Manufacturing Corporation from a “c+” rating to a “b” rating in a research note on Thursday, June 22nd.

Shares of Virco Manufacturing Corporation (NASDAQ:VIRC) traded down 2.52% during midday trading on Friday, reaching $5.80. The company’s stock had a trading volume of 21,060 shares. Virco Manufacturing Corporation has a 12 month low of $3.55 and a 12 month high of $6.05. The company has a market cap of $88.04 million, a price-to-earnings ratio of 3.76 and a beta of 0.12. The stock has a 50-day moving average of $5.46 and a 200 day moving average of $4.76.

Virco Manufacturing Corporation (NASDAQ:VIRC) last posted its earnings results on Thursday, September 14th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Virco Manufacturing Corporation had a net margin of 11.67% and a return on equity of 6.68%. The business had revenue of $72.64 million during the quarter, compared to analyst estimates of $69.33 million. On average, analysts predict that Virco Manufacturing Corporation will post $0.44 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its position in shares of Virco Manufacturing Corporation by 6.0% during the second quarter. Northern Trust Corp now owns 31,298 shares of the company’s stock worth $167,000 after buying an additional 1,760 shares during the period. D.A. Davidson & CO. boosted its position in shares of Virco Manufacturing Corporation by 50.9% during the second quarter. D.A. Davidson & CO. now owns 246,723 shares of the company’s stock worth $1,319,000 after buying an additional 83,250 shares during the period. Finally, Minerva Advisors LLC boosted its position in shares of Virco Manufacturing Corporation by 0.5% during the first quarter. Minerva Advisors LLC now owns 1,054,426 shares of the company’s stock worth $4,165,000 after buying an additional 5,178 shares during the period. 27.74% of the stock is owned by institutional investors.

Virco Manufacturing Corporation Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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