Virco Mfg. (NASDAQ:VIRC) Rating Increased to Buy at StockNews.com

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

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

Virco Mfg. Stock Down 1.3 %

Shares of Virco Mfg. stock traded down $0.13 on Thursday, reaching $9.55. The company’s stock had a trading volume of 103,651 shares, compared to its average volume of 153,010. Virco Mfg. has a 52 week low of $8.75 and a 52 week high of $18.50. The firm’s fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $14.37. The company has a quick ratio of 1.20, a current ratio of 2.88 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $155.56 million, a price-to-earnings ratio of 6.16 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 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 period in the previous year, the firm earned $0.62 EPS. Equities analysts anticipate that Virco Mfg. will post 1.54 earnings per share for the current year.

Institutional Trading of Virco Mfg.

Hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC grew its position in shares of Virco Mfg. by 129.1% during the 3rd 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. Virtus Investment Advisers Inc. bought a new position in Virco Mfg. in the 3rd quarter worth $90,000. Walleye Capital LLC purchased a new position in Virco Mfg. during the third quarter valued at $140,000. Creative Planning bought a new stake in Virco Mfg. during the third quarter valued at about $159,000. Finally, Algert Global LLC grew its holdings 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 purchasing an additional 1,785 shares during the period. Hedge funds and other institutional investors own 30.97% of the company’s stock.

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.