Virco Mfg.’s (VIRC) Outperform Rating Reiterated at Wedbush

Virco Mfg. (NASDAQ:VIRC)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $17.00 target price on the stock, down from their previous target price of $20.00. Wedbush’s price target would suggest a potential upside of 35.78% from the stock’s current price.

Virco Mfg. Stock Down 6.7 %

NASDAQ VIRC traded down $0.90 during trading hours on Tuesday, reaching $12.52. 373,900 shares of the company’s stock were exchanged, compared to its average volume of 216,335. The company’s 50-day moving average is $14.95 and its two-hundred day moving average is $14.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. Virco Mfg. has a one year low of $8.28 and a one year high of $18.50. The company has a market capitalization of $203.95 million, a price-to-earnings ratio of 7.59 and a beta of 0.68.

Virco Mfg. (NASDAQ:VIRC) last released its earnings results on Monday, December 9th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, analysts forecast that Virco Mfg. will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Algert Global LLC lifted its position in Virco Mfg. by 17.2% during the second quarter. Algert Global LLC now owns 12,158 shares of the company’s stock worth $169,000 after purchasing an additional 1,785 shares during the period. nVerses Capital LLC bought a new stake in shares of Virco Mfg. during the 2nd quarter worth approximately $36,000. Barclays PLC boosted its position in shares of Virco Mfg. by 25.8% during the 3rd quarter. Barclays PLC now owns 14,445 shares of the company’s stock worth $200,000 after acquiring an additional 2,961 shares in the last quarter. MetLife Investment Management LLC increased its stake in Virco Mfg. by 129.1% in the third quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock valued at $86,000 after acquiring an additional 3,511 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Virco Mfg. by 7.0% in the third quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock valued at $1,347,000 after acquiring an additional 6,399 shares during the last quarter. 30.97% of the stock is owned by institutional investors.

Virco Mfg. Company Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.