Virco Mfg. (NASDAQ:VIRC) Posts Earnings Results

Virco Mfg. (NASDAQ:VIRC) issued its earnings results on Monday. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative net margin of 0.89% and a negative return on equity of 2.63%.

Virco Mfg. stock traded down $0.02 during midday trading on Wednesday, hitting $3.50. 328 shares of the stock were exchanged, compared to its average volume of 33,213. Virco Mfg. has a 1 year low of $1.94 and a 1 year high of $4.61. The firm has a market cap of $55.72 million, a P/E ratio of -38.88 and a beta of 1.36. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.02 and a quick ratio of 0.58. The company has a 50 day moving average price of $3.52 and a two-hundred day moving average price of $3.37.

A number of equities analysts have recently commented on VIRC shares. TheStreet raised shares of Virco Mfg. from a “d+” rating to a “c” rating in a research note on Monday, June 14th. Zacks Investment Research raised shares of Virco Mfg. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th.

A hedge fund recently raised its stake in Virco Mfg. stock. Morgan Stanley increased its position in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,401 shares of the company’s stock after buying an additional 21,400 shares during the period. Morgan Stanley owned about 0.13% of Virco Mfg. worth $73,000 at the end of the most recent reporting period. 20.53% of the stock is owned by hedge funds and other institutional investors.

About Virco Mfg.

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.

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Earnings History for Virco Mfg. (NASDAQ:VIRC)

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