Virco Mfg. (NASDAQ:VIRC) Stock Rating Lowered by ValuEngine

Virco Mfg. (NASDAQ:VIRC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

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

Shares of VIRC opened at $3.94 on Thursday. Virco Mfg. has a 52-week low of $3.60 and a 52-week high of $5.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.65 and a current ratio of 1.50. The business’s 50 day moving average price is $4.12 and its two-hundred day moving average price is $4.25. The firm has a market cap of $61.91 million, a PE ratio of -39.40 and a beta of 0.71.

In other Virco Mfg. news, insider Bassey Yau sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $3.88, for a total value of $38,800.00. Following the transaction, the insider now directly owns 76,614 shares of the company’s stock, valued at $297,262.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 22,048 shares of company stock worth $85,032. Insiders own 18.02% of the company’s stock.

A hedge fund recently raised its stake in Virco Mfg. stock. D.A. Davidson & CO. raised its holdings in Virco Mfg. Co. (NASDAQ:VIRC) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 769,940 shares of the company’s stock after buying an additional 56,015 shares during the quarter. D.A. Davidson & CO. owned 4.95% of Virco Mfg. worth $3,596,000 as of its most recent SEC filing. 31.30% of the stock is currently owned by hedge funds and other institutional investors.

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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