Virco Mfg. (NASDAQ:VIRC) Given a $8.00 Price Target by Wedbush Analysts

Virco Mfg. (NASDAQ:VIRC – Get Rating) has been assigned a $8.00 price target by equities research analysts at Wedbush in a research report issued on Monday, Stock Target Advisor reports. Wedbush’s price objective indicates a potential upside of 117.98% from the company’s current price.

Separately, TheStreet downgraded Virco Mfg. from a “c-” rating to a “d+” rating in a report on Friday, April 22nd.

NASDAQ:VIRC traded up $0.66 during mid-day trading on Monday, reaching $3.67. 1,109 shares of the company’s stock traded hands, compared to its average volume of 9,277. Virco Mfg. has a 12-month low of $2.63 and a 12-month high of $4.17. The firm has a market capitalization of $59.09 million, a price-to-earnings ratio of -3.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.52 and a quick ratio of 0.30. The company has a 50 day moving average price of $3.02 and a 200-day moving average price of $3.04.

Virco Mfg. (NASDAQ:VIRC – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.79). Virco Mfg. had a negative net margin of 8.65% and a negative return on equity of 31.63%. The business had revenue of $40.11 million for the quarter, compared to analysts’ expectations of $37.50 million. As a group, analysts forecast that Virco Mfg. will post 0.39 EPS for the current year.

Several hedge funds have recently bought and sold shares of VIRC. Wedbush Securities Inc. grew its holdings in shares of Virco Mfg. by 119.5% during the 1st quarter. Wedbush Securities Inc. now owns 49,600 shares of the company’s stock worth $148,000 after acquiring an additional 27,000 shares during the period. Wilen Investment Management CORP. purchased a new position in shares of Virco Mfg. during the 1st quarter worth approximately $67,000. Morgan Stanley grew its holdings in shares of Virco Mfg. by 2,140,000.0% during the 2nd quarter. Morgan Stanley now owns 21,401 shares of the company’s stock worth $73,000 after acquiring an additional 21,400 shares during the period. Minerva Advisors LLC grew its holdings in shares of Virco Mfg. by 1.9% during the 4th quarter. Minerva Advisors LLC now owns 875,628 shares of the company’s stock worth $2,626,000 after acquiring an additional 16,182 shares during the period. Finally, Shufro Rose & Co. LLC purchased a new stake in shares of Virco Mfg. in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 19.24% of the company’s stock.

Virco Mfg. Company Profile (Get Rating)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, tablet armchairs with work surfaces and compact footprints, steel-frame and floor rockers, stools, series chairs, stack and folding chairs, hard plastic seating, upholstered stack and ergonomic chairs, and plastic stack chairs.

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