Virco Manufacturing Corporation (VIRC) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Virco Manufacturing Corporation (NASDAQ:VIRC) from a buy rating to a hold rating in a research report report published on Thursday, July 13th.

According to Zacks, “Virco Mfg. Corporation designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by Virco include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses. They also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, Virco has divided the sales force into two groups: Education and Commercial. “

A number of other brokerages also recently issued reports on VIRC. TheStreet raised Virco Manufacturing Corporation from a c+ rating to a b rating in a report on Thursday, June 22nd. Wedbush reaffirmed an outperform rating and set a $6.00 price target (up from $5.00) on shares of Virco Manufacturing Corporation in a report on Wednesday, June 21st.

Shares of Virco Manufacturing Corporation (VIRC) traded up 0.19% during trading on Thursday, reaching $5.35. The company’s stock had a trading volume of 2,620 shares. The stock has a 50 day moving average of $5.37 and a 200-day moving average of $4.53. The company has a market capitalization of $81.21 million, a PE ratio of 3.47 and a beta of 0.09. Virco Manufacturing Corporation has a 1-year low of $3.55 and a 1-year high of $5.95.

Virco Manufacturing Corporation (NASDAQ:VIRC) last released its earnings results on Monday, June 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.02. The company had revenue of $23.24 million during the quarter. Virco Manufacturing Corporation had a net margin of 13.47% and a return on equity of 10.87%. On average, analysts expect that Virco Manufacturing Corporation will post $0.44 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2017/08/11/zacks-investment-research-downgrades-virco-manufacturing-corporation-virc-to-hold-updated-updated-updated.html.

Several hedge funds have recently bought and sold shares of VIRC. Northern Trust Corp increased its stake in Virco Manufacturing Corporation by 6.0% in the second quarter. Northern Trust Corp now owns 31,298 shares of the company’s stock valued at $167,000 after buying an additional 1,760 shares during the last quarter. Minerva Advisors LLC increased its stake in Virco Manufacturing Corporation by 0.5% in the first quarter. Minerva Advisors LLC now owns 1,054,426 shares of the company’s stock valued at $4,165,000 after buying an additional 5,178 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in Virco Manufacturing Corporation by 50.9% in the second quarter. D.A. Davidson & CO. now owns 246,723 shares of the company’s stock valued at $1,319,000 after buying an additional 83,250 shares during the last quarter. 27.35% of the stock is owned by institutional investors and hedge funds.

Virco Manufacturing Corporation Company Profile

Virco Mfg. Corporation (Virco) is engaged in the designing, producing and distributing of furniture for a range family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. It manufactures an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables.

Get a free copy of the Zacks research report on Virco Manufacturing Corporation (VIRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Virco Manufacturing Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Virco Manufacturing Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit