Virco Mfg. (NASDAQ:VIRC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Virco Mfg. Co. (NASDAQ:VIRCGet Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.02 and traded as high as $14.40. Virco Mfg. shares last traded at $14.12, with a volume of 81,809 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th.

Read Our Latest Research Report on Virco Mfg.

Virco Mfg. Stock Up 1.2 %

The firm has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $14.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.20 and a current ratio of 2.26. The company has a market cap of $229.04 million, a PE ratio of 8.52 and a beta of 0.64.

Virco Mfg. (NASDAQ:VIRCGet Free Report) last issued its quarterly earnings results on Monday, September 9th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $108.42 million during the quarter, compared to analyst estimates of $115.90 million. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. Equities research analysts predict that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a $0.025 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.10 dividend on an annualized basis and a yield of 0.71%. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. Virco Mfg.’s dividend payout ratio (DPR) is presently 6.06%.

Institutional Investors Weigh In On Virco Mfg.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIRC. Janney Montgomery Scott LLC acquired a new position in shares of Virco Mfg. in the 3rd quarter valued at about $1,153,000. Inspire Advisors LLC acquired a new position in Virco Mfg. during the third quarter valued at approximately $572,000. Creative Planning purchased a new stake in Virco Mfg. during the third quarter worth approximately $159,000. Inspire Investing LLC increased its position in shares of Virco Mfg. by 12.5% in the third 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. Finally, Ritholtz Wealth Management raised its stake 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 period. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Virco Mfg. Company Profile

(Get Free Report)

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.

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