Virco Mfg. (NASDAQ:VIRC) Share Price Passes Above 200-Day Moving Average – What’s Next?

Virco Mfg. Co. (NASDAQ:VIRC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.02 and traded as high as $14.40. Virco Mfg. shares last traded at $14.12, with a volume of 81,809 shares trading hands.

Wall Street Analyst Weigh In

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

Virco Mfg. Price Performance

The stock has a market cap of $230.01 million, a PE ratio of 8.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20. The business has a fifty day moving average of $14.66 and a 200 day moving average of $14.02.

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

Virco Mfg. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 20th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.10 annualized dividend and a yield of 0.71%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio is presently 6.06%.

Institutional Trading of Virco Mfg.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC raised its stake in Virco Mfg. by 17.2% during the second quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after buying an additional 1,785 shares in the last quarter. Lazard Asset Management LLC raised its stake in Virco Mfg. by 115.6% during the first quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after buying an additional 1,850 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Virco Mfg. during the 2nd quarter worth approximately $36,000. Ritholtz Wealth Management raised its position in shares of Virco Mfg. by 7.0% during the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock worth $1,347,000 after purchasing an additional 6,399 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Virco Mfg. by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 58,300 shares of the company’s stock worth $805,000 after purchasing an additional 6,481 shares during the period. Institutional investors and hedge funds own 30.97% of the company’s stock.

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.