Virco Mfg. (NASDAQ:VIRC) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Virco Mfg. (NASDAQ:VIRCFree Report) in a research note published on Friday morning, RTT News reports. They currently have a $19.00 target price on the stock, up from their previous target price of $16.00.

Separately, TheStreet raised Virco Mfg. from a c rating to a b rating in a research report on Wednesday, February 14th.

View Our Latest Report on Virco Mfg.

Virco Mfg. Stock Performance

Shares of VIRC stock opened at $13.19 on Friday. Virco Mfg. has a 12 month low of $3.70 and a 12 month high of $13.37. The firm has a market capitalization of $215.66 million, a PE ratio of 9.84 and a beta of 0.67. The firm has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $10.65. The company has a current ratio of 2.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Virco Mfg. (NASDAQ:VIRCGet Free Report) last posted its earnings results on Friday, April 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $42.60 million during the quarter, compared to analyst estimates of $40.70 million. Virco Mfg. had a return on equity of 26.24% and a net margin of 8.14%. Analysts forecast that Virco Mfg. will post 1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Virco Mfg.

Several large investors have recently made changes to their positions in the business. Cetera Advisors LLC purchased a new stake in Virco Mfg. during the first quarter worth about $654,000. Ancora Advisors LLC purchased a new stake in Virco Mfg. in the first quarter worth $917,000. Lazard Asset Management LLC lifted its position in shares of Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock valued at $37,000 after buying an additional 1,850 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Virco Mfg. by 124.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 124,642 shares of the company’s stock worth $1,362,000 after acquiring an additional 69,179 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Virco Mfg. by 47.1% in the 1st quarter. Acadian Asset Management LLC now owns 260,364 shares of the company’s stock valued at $2,843,000 after acquiring an additional 83,405 shares during the period. 30.97% of the stock is owned by hedge funds and other institutional investors.

About Virco Mfg.

(Get Free Report)

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.

Further Reading

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