Virco Mfg. (NASDAQ:VIRC) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Virco Mfg. Co. (NASDAQ:VIRC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.14 and traded as high as $14.70. Virco Mfg. shares last traded at $14.49, with a volume of 84,999 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

Virco Mfg. Price Performance

The firm has a market capitalization of $236.04 million, a price-to-earnings ratio of 8.78 and a beta of 0.65. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $14.33 and its two-hundred day moving average is $14.14.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Virco Mfg. had a return on equity of 27.88% and a net margin of 9.50%. The company had revenue of $108.42 million for the quarter, compared to the consensus estimate of $115.90 million. Equities research analysts anticipate that Virco Mfg. Co. will post 1.93 earnings per share for the current fiscal year.

Virco Mfg. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.025 per share. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, September 20th. Virco Mfg.’s payout ratio is presently 6.06%.

Institutional Trading of Virco Mfg.

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in Virco Mfg. during the first quarter valued at approximately $675,000. LSV Asset Management acquired a new position in shares of Virco Mfg. in the 1st quarter valued at $90,000. Russell Investments Group Ltd. increased its position in shares of Virco Mfg. by 155.9% in the 1st quarter. Russell Investments Group Ltd. now owns 33,613 shares of the company’s stock valued at $367,000 after buying an additional 20,480 shares in the last quarter. Vanguard Group Inc. raised its stake in Virco Mfg. by 78.2% during the 1st quarter. Vanguard Group Inc. now owns 477,218 shares of the company’s stock worth $5,216,000 after buying an additional 209,366 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Virco Mfg. by 47.1% during the 1st quarter. Acadian Asset Management LLC now owns 260,364 shares of the company’s stock worth $2,843,000 after buying an additional 83,405 shares during the period. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Virco Mfg. Company Profile

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.