Virco Mfg. (NASDAQ:VIRC) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Virco Mfg. (NASDAQ:VIRCFree Report) from a buy rating to a strong-buy rating in a research report released on Monday morning.

Several other equities analysts have also issued reports on the company. Wedbush restated an outperform rating and set a $19.00 target price (up from $16.00) on shares of Virco Mfg. in a research report on Friday. TheStreet raised shares of Virco Mfg. from a c rating to a b rating in a research note on Wednesday, February 14th.

Check Out Our Latest Report on VIRC

Virco Mfg. Stock Up 18.9 %

NASDAQ:VIRC opened at $15.68 on Monday. The company has a market cap of $256.32 million, a price-to-earnings ratio of 10.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 2.31. The stock’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $10.82. Virco Mfg. has a 52-week low of $3.82 and a 52-week high of $15.99.

Virco Mfg. (NASDAQ:VIRCGet Free Report) last posted its quarterly earnings results on Friday, June 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.26. Virco Mfg. had a return on equity of 28.61% and a net margin of 9.07%. The business had revenue of $46.74 million for the quarter, compared to analysts’ expectations of $37.70 million. On average, analysts anticipate that Virco Mfg. will post 1.6 EPS for the current year.

Virco Mfg. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $0.08 annualized dividend and a yield of 0.51%. Virco Mfg.’s dividend payout ratio (DPR) is currently 5.13%.

Hedge Funds Weigh In On Virco Mfg.

A number of large investors have recently added to or reduced their stakes in VIRC. Minerva Advisors LLC boosted its position in shares of Virco Mfg. by 12.2% during the third quarter. Minerva Advisors LLC now owns 1,079,874 shares of the company’s stock worth $8,541,000 after buying an additional 117,662 shares during the period. Bailard Inc. acquired a new position in Virco Mfg. during the 4th quarter worth approximately $190,000. Ritholtz Wealth Management bought a new position in shares of Virco Mfg. during the 4th quarter worth approximately $309,000. Barclays PLC acquired a new stake in shares of Virco Mfg. in the third quarter valued at approximately $74,000. Finally, EAM Investors LLC bought a new stake in shares of Virco Mfg. in the third quarter worth $1,479,000. Institutional investors own 30.97% of the company’s stock.

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.

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