Brokerages Expect Virco Mfg. Co. (NASDAQ:VIRC) to Announce $0.23 EPS

Shares of Virco Mfg. Co. (NASDAQ:VIRC) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus target price of $4.75 for the company and are expecting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Virco Mfg. an industry rank of 221 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded Virco Mfg. from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

NASDAQ:VIRC traded down $0.02 on Tuesday, reaching $4.41. 4,916 shares of the stock traded hands, compared to its average volume of 5,841. The stock has a market capitalization of $69.16 million, a price-to-earnings ratio of -44.10 and a beta of 0.78. Virco Mfg. has a 1-year low of $3.70 and a 1-year high of $5.35. The firm has a 50 day moving average of $4.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 0.29.

Virco Mfg. (NASDAQ:VIRC) last posted its quarterly earnings results on Friday, June 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $26.89 million for the quarter, compared to the consensus estimate of $23.20 million. Virco Mfg. had a negative return on equity of 1.90% and a negative net margin of 0.54%. On average, sell-side analysts predict that Virco Mfg. will post 0.03 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Virco Mfg. by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 190,600 shares of the company’s stock worth $890,000 after buying an additional 2,600 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Virco Mfg. by 0.6% during the 1st quarter. Wedbush Securities Inc. now owns 1,728,938 shares of the company’s stock worth $7,486,000 after buying an additional 10,602 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Virco Mfg. by 7.8% during the 2nd quarter. D.A. Davidson & CO. now owns 769,940 shares of the company’s stock worth $3,596,000 after buying an additional 56,015 shares in the last quarter. Hedge funds and other institutional investors own 31.29% of the company’s stock.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever and tablet arm chairs, work surfaces and compact footprints, steel-frame rockers, stools, task and classroom chairs, stack and folding chairs, hard plastic seats, upholstered stack and ergonomic chairs, and plastic stack chairs.

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