Analysts Set $5.50 Price Target for Virco Mfg. Co. (VIRC)

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

Brokerages have set a 12 month consensus price objective of $5.50 for the company and are expecting that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also given Virco Mfg. an industry rank of 204 out of 255 based on the ratings given to related companies.

VIRC has been the subject of several research reports. Zacks Investment Research downgraded shares of Virco Mfg. from a “hold” rating to a “strong sell” rating in a report on Thursday, May 3rd. ValuEngine raised shares of Virco Mfg. from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th.

A hedge fund recently raised its stake in Virco Mfg. stock. Mill Road Capital Management LLC lifted its holdings in Virco Mfg. Co. (NASDAQ:VIRC) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,310 shares of the company’s stock after acquiring an additional 33,481 shares during the period. Virco Mfg. accounts for approximately 0.6% of Mill Road Capital Management LLC’s holdings, making the stock its 10th biggest holding. Mill Road Capital Management LLC owned 1.56% of Virco Mfg. worth $1,057,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 30.96% of the company’s stock.

Shares of VIRC traded up $0.10 during midday trading on Thursday, hitting $5.00. 1,200 shares of the company traded hands, compared to its average volume of 8,244. Virco Mfg. has a 52 week low of $3.95 and a 52 week high of $6.05. The company has a market capitalization of $75.25 million, a PE ratio of -23.81 and a beta of 0.27. The company has a quick ratio of 0.30, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Friday, June 8th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Virco Mfg. had a negative net margin of 2.42% and a negative return on equity of 7.55%. The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $25.30 million. sell-side analysts expect that Virco Mfg. will post 0.36 earnings per share for the current year.

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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