Virco Manufacturing (NASDAQ:VIRC) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Virco Manufacturing Corporation (NASDAQ:VIRC – Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $6.15 and traded as high as $6.44. Virco Manufacturing shares last traded at $6.40, with a volume of 4,642 shares trading hands.

Analyst Ratings Changes

VIRC has been the subject of several recent analyst reports. Wall Street Zen upgraded Virco Manufacturing from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Virco Manufacturing in a report on Friday, October 2nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

Get Our Latest Research Report on VIRC

Virco Manufacturing Price Performance

The firm has a market cap of $100.86 million, a P/E ratio of -40.00 and a beta of 0.14. The firm’s fifty day simple moving average is $6.28 and its 200 day simple moving average is $6.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53.

Virco Manufacturing (NASDAQ:VIRC – Get Free Report) last issued its earnings results on Friday, September 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.48. The firm had revenue of $87.47 million for the quarter, compared to analysts’ expectations of $72.10 million. Virco Manufacturing had a negative return on equity of 2.32% and a negative net margin of 1.31%.

Virco Manufacturing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 18th were issued a dividend of $0.0250 per share. This represents a $0.10 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 18th. Virco Manufacturing’s dividend payout ratio (DPR) is currently -62.50%.

Institutional Trading of Virco Manufacturing

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Virco Manufacturing by 101.6% in the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock valued at $36,000 after purchasing an additional 2,952 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Virco Manufacturing in the second quarter worth $42,000. Park Edge Advisors LLC increased its position in Virco Manufacturing by 60.9% in the first quarter. Park Edge Advisors LLC now owns 29,119 shares of the company’s stock worth $178,000 after purchasing an additional 11,019 shares during the last quarter. Empowered Funds LLC raised its stake in Virco Manufacturing by 4.9% during the first quarter. Empowered Funds LLC now owns 39,826 shares of the company’s stock valued at $244,000 after purchasing an additional 1,869 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Virco Manufacturing during the second quarter valued at $332,000. 30.97% of the stock is owned by hedge funds and other institutional investors.

Virco Manufacturing Company Profile

(Get Free Report)

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment for educational environments. Its products include classroom chairs and desks, student and activity tables, computer furniture, classroom storage, mobile carts, folding tables and chairs, and related instructional and institutional furnishings.

The company also supplies products for specialized education and institutional settings, including auditorium and cafeteria seating, activity and collaboration furniture, athletic equipment, and other equipment used in schools and public facilities.

See Also

Receive News & Ratings for Virco Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virco Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.