Virco Manufacturing (NASDAQ:VIRC) Releases Earnings Results, Misses Estimates By $0.55 EPS

Virco Manufacturing (NASDAQ:VIRC) posted its quarterly earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.55), Zacks reports. Virco Manufacturing had a net margin of 5.74% and a return on equity of 12.04%.

Virco Manufacturing Stock Down 8.3%

Virco Manufacturing stock traded down $0.61 during mid-day trading on Monday, reaching $6.75. The stock had a trading volume of 15,351 shares, compared to its average volume of 79,988. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.96 and a quick ratio of 1.38. The company has a market capitalization of $106.38 million, a price-to-earnings ratio of 7.66 and a beta of 0.22. Virco Manufacturing has a one year low of $6.01 and a one year high of $14.79. The company has a 50-day moving average price of $7.12 and a two-hundred day moving average price of $7.81.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Virco Manufacturing in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.00.

Insider Buying and Selling at Virco Manufacturing

In related news, CEO Robert A. Virtue bought 5,000 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was acquired at an average price of $6.96 per share, with a total value of $34,800.00. Following the transaction, the chief executive officer owned 493,324 shares in the company, valued at approximately $3,433,535.04. This trade represents a 1.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Douglas A. Virtue purchased 13,022 shares of the business’s stock in a transaction on Friday, October 17th. The shares were purchased at an average price of $7.34 per share, with a total value of $95,581.48. Following the completion of the purchase, the executive vice president owned 861,839 shares in the company, valued at approximately $6,325,898.26. This trade represents a 1.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 18.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of Virco Manufacturing by 32.0% during the second quarter. Ameriprise Financial Inc. now owns 82,517 shares of the company’s stock worth $658,000 after acquiring an additional 20,004 shares during the last quarter. AQR Capital Management LLC grew its position in Virco Manufacturing by 25.7% during the 1st quarter. AQR Capital Management LLC now owns 317,915 shares of the company’s stock worth $3,007,000 after purchasing an additional 64,944 shares during the last quarter. Geode Capital Management LLC increased its stake in Virco Manufacturing by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 257,034 shares of the company’s stock valued at $2,051,000 after purchasing an additional 14,203 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Virco Manufacturing by 5.4% in the third quarter. Bridgeway Capital Management LLC now owns 91,962 shares of the company’s stock worth $713,000 after buying an additional 4,741 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Virco Manufacturing by 9.5% in the first quarter. Goldman Sachs Group Inc. now owns 62,829 shares of the company’s stock worth $594,000 after buying an additional 5,436 shares during the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

About Virco Manufacturing

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.