Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.59 and traded as high as $11.03. Virco Mfg. shares last traded at $11.00, with a volume of 86,101 shares trading hands.
Analyst Upgrades and Downgrades
Separately, TheStreet raised shares of Virco Mfg. from a “c” rating to a “b” rating in a report on Wednesday, February 14th.
Read Our Latest Stock Report on VIRC
Virco Mfg. Stock Performance
Virco Mfg. (NASDAQ:VIRC – Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $40.70 million. Virco Mfg. had a return on equity of 26.24% and a net margin of 8.14%. As a group, equities research analysts forecast that Virco Mfg. Co. will post 1.6 EPS for the current fiscal year.
Virco Mfg. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 7th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Wednesday, March 6th. Virco Mfg.’s payout ratio is 5.97%.
Hedge Funds Weigh In On Virco Mfg.
A number of hedge funds have recently modified their holdings of VIRC. Barclays PLC bought a new position in shares of Virco Mfg. in the third quarter worth approximately $74,000. Merit Financial Group LLC boosted its position 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 worth $105,000 after purchasing an additional 2,859 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Virco Mfg. in the third quarter worth $146,000. Russell Investments Group Ltd. purchased a new position in shares of Virco Mfg. in the fourth quarter worth $160,000. Finally, Heron Bay Capital Management purchased a new position in shares of Virco Mfg. in the fourth quarter worth $177,000. 30.97% of the stock is currently owned by institutional investors.
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.
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