Virco Mfg. (NASDAQ:VIRC) Downgraded by StockNews.com to Buy

Virco Mfg. (NASDAQ:VIRC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Wedbush reissued an “outperform” rating and issued a $19.00 target price (up from $16.00) on shares of Virco Mfg. in a research report on Friday, June 7th.

Virco Mfg. Stock Performance

VIRC stock opened at $16.14 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $261.63 million, a price-to-earnings ratio of 10.35 and a beta of 0.67. Virco Mfg. has a 12 month low of $3.82 and a 12 month high of $17.83. The firm has a 50 day moving average of $12.06 and a two-hundred day moving average of $11.12.

Virco Mfg. (NASDAQ:VIRC) last posted its earnings results on Friday, June 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.26. The company had revenue of $46.74 million during the quarter, compared to the consensus estimate of $37.70 million. Virco Mfg. had a net margin of 9.07% and a return on equity of 28.41%. As a group, equities analysts anticipate that Virco Mfg. will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Minerva Advisors LLC grew its stake in Virco Mfg. by 12.2% in the 3rd quarter. Minerva Advisors LLC now owns 1,079,874 shares of the company’s stock valued at $8,541,000 after buying an additional 117,662 shares during the last quarter. Bailard Inc. acquired a new position in Virco Mfg. in the 4th quarter valued at $190,000. Ritholtz Wealth Management acquired a new position in Virco Mfg. in the 4th quarter valued at $309,000. Barclays PLC acquired a new position in Virco Mfg. in the 3rd quarter valued at $74,000. Finally, EAM Investors LLC acquired a new position in Virco Mfg. in the 3rd quarter valued at $1,479,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.

About Virco Mfg.

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.