Virco Mfg. (NASDAQ:VIRC) Issues Earnings Results

Virco Mfg. (NASDAQ:VIRC) released its quarterly earnings results on Monday. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06), Fidelity Earnings reports. Virco Mfg. had a negative return on equity of 2.63% and a negative net margin of 0.89%.

Virco Mfg. stock opened at $3.52 on Wednesday. The stock has a market cap of $56.03 million, a P/E ratio of -39.11 and a beta of 1.36. The company has a fifty day simple moving average of $3.52 and a 200-day simple moving average of $3.37. The company has a current ratio of 2.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. Virco Mfg. has a 12-month low of $1.94 and a 12-month high of $4.61.

A hedge fund recently raised its stake in Virco Mfg. stock. Morgan Stanley boosted its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 2,140,000.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,401 shares of the company’s stock after acquiring an additional 21,400 shares during the period. Morgan Stanley owned about 0.13% of Virco Mfg. worth $73,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.53% of the company’s stock.

Several brokerages have commented on VIRC. Zacks Investment Research raised shares of Virco Mfg. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th. TheStreet raised Virco Mfg. from a “d+” rating to a “c” rating in a research note on Monday, June 14th.

Virco Mfg. Company Profile

Virco Manufacturing Corp. engages in the design, production and distribution of furniture. Its products include mobile tables, mobile storage equipment, desks, computer furniture, chairs, folding chairs and folding tables. The company was founded in February 1950 and is headquartered in Torrance, CA.

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Earnings History for Virco Mfg. (NASDAQ:VIRC)

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