TheStreet Downgrades Virco Mfg. (NASDAQ:VIRC) to D+

TheStreet downgraded shares of Virco Mfg. (NASDAQ:VIRCGet Rating) from a c- rating to a d+ rating in a research note published on Friday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research raised shares of Virco Mfg. from a strong sell rating to a hold rating in a report on Thursday, February 3rd.

VIRC stock opened at $2.78 on Friday. The company has a market cap of $44.76 million, a P/E ratio of -2.93 and a beta of 1.26. Virco Mfg. has a 52 week low of $2.78 and a 52 week high of $4.17. The company’s 50-day moving average price is $2.98 and its 200 day moving average price is $3.13. The company has a current ratio of 2.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.21.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Virco Mfg. by 2,140,000.0% in the second quarter. Morgan Stanley now owns 21,401 shares of the company’s stock valued at $73,000 after purchasing an additional 21,400 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Virco Mfg. by 119.5% in the first quarter. Wedbush Securities Inc. now owns 49,600 shares of the company’s stock valued at $148,000 after purchasing an additional 27,000 shares in the last quarter. Finally, Minerva Advisors LLC raised its position in shares of Virco Mfg. by 1.9% in the fourth quarter. Minerva Advisors LLC now owns 875,628 shares of the company’s stock valued at $2,626,000 after buying an additional 16,182 shares during the last quarter. 19.19% of the stock is currently owned by institutional investors.

About Virco Mfg. (Get Rating)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, tablet arm chairs with work surfaces and compact footprints, steel-frame rockers, stools, series chairs, stack and folding chairs, hard plastic seating, upholstered stack and ergonomic chairs, and plastic stack chairs.

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