ValuEngine Upgrades Virco Mfg. (NASDAQ:VIRC) to “Buy”

Virco Mfg. (NASDAQ:VIRC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research raised Virco Mfg. from a “hold” rating to a “strong-buy” rating and set a $4.75 price target for the company in a research report on Thursday, December 19th.

VIRC stock opened at $2.17 on Wednesday. The stock has a 50-day moving average price of $3.56 and a two-hundred day moving average price of $3.93. Virco Mfg. has a 12-month low of $1.82 and a 12-month high of $5.00. The company has a current ratio of 2.49, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The company has a market cap of $34.56 million, a PE ratio of 217.00 and a beta of 0.76.

In other news, Director Alexander L. Cappello sold 15,674 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $3.10, for a total value of $48,589.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas A. Virtue bought 15,378 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $3.10 per share, with a total value of $47,671.80. Following the transaction, the executive vice president now directly owns 108,557 shares of the company’s stock, valued at $336,526.70. The disclosure for this purchase can be found here. 18.02% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Virco Mfg. stock. Renaissance Technologies LLC lifted its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,902 shares of the company’s stock after buying an additional 6,302 shares during the period. Renaissance Technologies LLC owned approximately 1.26% of Virco Mfg. worth $839,000 as of its most recent SEC filing. Institutional investors own 30.38% 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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