Virco Mfg. (NASDAQ:VIRC) Downgraded by StockNews.com to “Hold”

Virco Mfg. (NASDAQ:VIRC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Wedbush reiterated an “outperform” rating and set a $17.00 price objective (down from $20.00) on shares of Virco Mfg. in a report on Tuesday, December 10th.

Virco Mfg. Stock Up 2.3 %

Shares of NASDAQ VIRC opened at $10.25 on Friday. The firm has a market cap of $166.97 million, a P/E ratio of 6.61 and a beta of 0.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88. Virco Mfg. has a 1 year low of $8.75 and a 1 year high of $18.50. The firm’s 50 day moving average price is $12.97 and its 200 day moving average price is $14.23.

Virco Mfg. (NASDAQ:VIRC) last posted 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 return on equity of 24.63% and a net margin of 8.93%. During the same period last year, the firm posted $0.62 EPS. As a group, sell-side analysts anticipate that Virco Mfg. will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Virco Mfg.

Several hedge funds and other institutional investors have recently made changes to their positions in VIRC. Dimensional Fund Advisors LP raised its position in Virco Mfg. by 11.9% in the second quarter. Dimensional Fund Advisors LP now owns 525,456 shares of the company’s stock valued at $7,325,000 after purchasing an additional 55,689 shares during the period. Renaissance Technologies LLC lifted its position in Virco Mfg. by 32.2% during the 2nd quarter. Renaissance Technologies LLC now owns 399,130 shares of the company’s stock worth $5,564,000 after acquiring an additional 97,300 shares in the last quarter. American Century Companies Inc. boosted its holdings in Virco Mfg. by 45.2% in the 2nd quarter. American Century Companies Inc. now owns 276,298 shares of the company’s stock worth $3,852,000 after acquiring an additional 85,962 shares during the period. Geode Capital Management LLC grew its position in Virco Mfg. by 2.9% in the third quarter. Geode Capital Management LLC now owns 240,844 shares of the company’s stock valued at $3,327,000 after acquiring an additional 6,710 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Virco Mfg. by 22.6% during the third quarter. State Street Corp now owns 170,300 shares of the company’s stock valued at $2,356,000 after purchasing an additional 31,415 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.