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

Virco Mfg. (NASDAQ:VIRC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Wedbush restated an “outperform” rating and issued a $17.00 price target (down previously from $20.00) on shares of Virco Mfg. in a research report on Tuesday, December 10th.

Virco Mfg. Stock Down 3.7 %

Shares of VIRC opened at $9.20 on Thursday. The business’s 50 day moving average is $13.39 and its 200 day moving average is $14.37. The company has a current ratio of 2.88, a quick ratio of 1.20 and a debt-to-equity ratio of 0.03. Virco Mfg. has a 12-month low of $8.75 and a 12-month high of $18.50. The company has a market capitalization of $149.86 million, a PE ratio of 5.94 and a beta of 0.77.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Monday, December 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a net margin of 8.93% and a return on equity of 24.63%. During the same quarter in the prior year, the firm posted $0.62 EPS. Research analysts expect that Virco Mfg. will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virco Mfg.

Several institutional investors have recently modified their holdings of the stock. Algert Global LLC raised its holdings in Virco Mfg. by 17.2% during the 2nd 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 during the period. Barclays PLC increased its position in Virco Mfg. by 25.8% during the third quarter. Barclays PLC now owns 14,445 shares of the company’s stock valued at $200,000 after acquiring an additional 2,961 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Virco Mfg. by 129.1% in the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after acquiring an additional 3,511 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Virco Mfg. by 7.0% in the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock worth $1,347,000 after acquiring an additional 6,399 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake 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. 30.97% of the stock is owned by institutional investors.

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.