Zacks Investment Research Lowers Virco Mfg. (VIRC) to Strong Sell

Zacks Investment Research lowered shares of Virco Mfg. (NASDAQ:VIRC) from a hold rating to a strong sell rating in a report published on Wednesday morning.

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. “

Other research analysts also recently issued research reports about the company. ValuEngine raised Virco Mfg. from a hold rating to a buy rating in a report on Friday, September 1st. Wedbush reissued an ourperform rating and issued a $6.00 target price on shares of Virco Mfg. in a report on Friday, September 15th.

Shares of Virco Mfg. (NASDAQ VIRC) traded up $0.15 on Wednesday, hitting $4.90. The stock had a trading volume of 12,300 shares, compared to its average volume of 10,715. Virco Mfg. has a 12-month low of $3.55 and a 12-month high of $6.05. The company has a current ratio of 2.17, a quick ratio of 0.70 and a debt-to-equity ratio of 0.17. The company has a market cap of $72.18, a P/E ratio of 490.49 and a beta of -0.04.

Virco Mfg. (NASDAQ:VIRC) last posted its earnings results on Thursday, December 14th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). Virco Mfg. had a net margin of 0.19% and a return on equity of 0.58%. The firm had revenue of $68.79 million during the quarter, compared to the consensus estimate of $75.90 million. equities research analysts expect that Virco Mfg. will post 0.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Thursday, December 28th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, December 27th.

A hedge fund recently raised its stake in Virco Mfg. stock. D.A. Davidson & CO. increased its holdings in shares of Virco Mfg. Co. (NASDAQ:VIRC) by 21.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,329 shares of the company’s stock after purchasing an additional 53,606 shares during the quarter. D.A. Davidson & CO. owned approximately 1.96% of Virco Mfg. worth $1,651,000 at the end of the most recent reporting period. 28.09% of the stock is currently owned by hedge funds and other institutional investors.

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About Virco Mfg.

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.

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