Virco Mfg. (NASDAQ:VIRC) Stock Crosses Above 200-Day Moving Average of $9.83

Virco Mfg. Co. (NASDAQ:VIRC)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.83 and traded as high as $11.91. Virco Mfg. shares last traded at $11.86, with a volume of 123,683 shares trading hands.

Analyst Ratings Changes

Separately, TheStreet upgraded Virco Mfg. from a “c” rating to a “b” rating in a research note on Wednesday, February 14th.

Virco Mfg. Stock Performance

The company has a quick ratio of 0.80, a current ratio of 2.31 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $10.69 and a 200 day simple moving average of $9.83. The company has a market capitalization of $193.91 million, a price-to-earnings ratio of 8.85 and a beta of 0.69.

Virco Mfg. (NASDAQ:VIRC) last issued its earnings results on Friday, April 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Virco Mfg. had a net margin of 8.14% and a return on equity of 26.24%. The company had revenue of $42.60 million during the quarter, compared to analyst estimates of $40.70 million. As a group, analysts anticipate that Virco Mfg. Co. will post 1.6 earnings per share for the current fiscal year.

Virco Mfg. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Thursday, March 7th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, March 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.67%. Virco Mfg.’s dividend payout ratio is presently 5.97%.

Hedge Funds Weigh In On Virco Mfg.

Hedge funds and other institutional investors have recently made changes to their positions in the business. LSV Asset Management bought a new stake in Virco Mfg. during the first quarter worth approximately $90,000. Barclays PLC bought a new stake in Virco Mfg. during the third quarter worth approximately $74,000. Russell Investments Group Ltd. bought a new position in shares of Virco Mfg. in the fourth quarter valued at $160,000. Merit Financial Group LLC increased its holdings in shares of Virco Mfg. by 27.7% in the third quarter. Merit Financial Group LLC now owns 13,176 shares of the company’s stock valued at $105,000 after buying an additional 2,859 shares in the last quarter. Finally, Heron Bay Capital Management bought a new position in shares of Virco Mfg. in the fourth quarter valued at $177,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.

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.