StockNews.com Downgrades Virco Mfg. (NASDAQ:VIRC) to Hold

StockNews.com lowered shares of Virco Mfg. (NASDAQ:VIRC) from a buy rating to a hold rating in a research report sent to investors on Friday.

Separately, Wedbush reiterated an “outperform” rating and issued a $17.00 price objective (down from $20.00) on shares of Virco Mfg. in a research note on Tuesday, December 10th.

Virco Mfg. Stock Down 2.0 %

Shares of NASDAQ:VIRC opened at $10.05 on Friday. The firm has a market capitalization of $163.71 million, a PE ratio of 6.48 and a beta of 0.77. Virco Mfg. has a 1 year low of $8.75 and a 1 year high of $18.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 1.70. The firm’s 50-day moving average is $12.74 and its two-hundred day moving average is $14.18.

Virco Mfg. (NASDAQ:VIRC) last announced its earnings results on Monday, December 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.35). Virco Mfg. had a return on equity of 24.63% and a net margin of 8.93%. During the same quarter in the previous year, the company earned $0.62 EPS. Analysts predict that Virco Mfg. will post 1.54 EPS for the current year.

Virco Mfg. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were issued a $0.025 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.10 annualized dividend and a yield of 1.00%. Virco Mfg.’s dividend payout ratio (DPR) is 6.45%.

Institutional Investors Weigh In On Virco Mfg.

A number of large investors have recently modified their holdings of the company. Algert Global LLC grew its stake in shares of 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 in the last quarter. Barclays PLC lifted its holdings in 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 buying an additional 2,961 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Virco Mfg. by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 6,231 shares of the company’s stock worth $86,000 after acquiring an additional 3,511 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Virco Mfg. by 7.0% in the 3rd 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. Finally, Inspire Investing LLC raised its position in shares of Virco Mfg. by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 58,300 shares of the company’s stock worth $805,000 after acquiring an additional 6,481 shares in the last quarter. 30.97% of the stock is owned by hedge funds and other 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.