Zacks: Virco Mfg. Co. (NASDAQ:VIRC) Given Consensus Recommendation of “Strong Buy” by Brokerages

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 recommendation.

Brokerages have set a 12 month consensus target price of $4.75 for the company and are anticipating that the company will post $0.23 EPS 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.

Shares of NASDAQ:VIRC traded up $0.14 on Tuesday, hitting $4.45. The company’s stock had a trading volume of 7,700 shares, compared to its average volume of 5,150. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.48. The company’s 50-day moving average price is $4.42. Virco Mfg. has a 12 month low of $3.70 and a 12 month high of $5.35.

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

An institutional investor recently raised its position in Virco Mfg. stock. Wedbush Securities Inc. increased its position in Virco Mfg. Co. (NASDAQ:VIRC) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,728,938 shares of the company’s stock after buying an additional 10,602 shares during the quarter. Virco Mfg. comprises approximately 0.8% of Wedbush Securities Inc.’s holdings, making the stock its 18th largest position. Wedbush Securities Inc. owned approximately 11.12% of Virco Mfg. worth $7,486,000 at the end of the most recent quarter. Institutional investors and hedge funds own 31.29% of the company’s stock.

Virco Mfg. Company Profile

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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