Virco Mfg. (NASDAQ:VIRC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Virco Mfg. Co. (NASDAQ:VIRC)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.02 and traded as high as $14.40. Virco Mfg. shares last traded at $14.12, with a volume of 81,809 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th.

Virco Mfg. Trading Up 1.2 %

The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04. The company has a market cap of $229.04 million, a price-to-earnings ratio of 8.52 and a beta of 0.64. The business has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $14.04.

Virco Mfg. (NASDAQ:VIRC) last released its quarterly earnings data on Monday, September 9th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. The firm had revenue of $108.42 million for the quarter, compared to the consensus estimate of $115.90 million. On average, equities analysts anticipate that Virco Mfg. Co. will post 1.93 EPS for the current fiscal year.

Virco Mfg. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, September 20th. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 0.71%. Virco Mfg.’s payout ratio is currently 6.06%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Algert Global LLC grew its stake in Virco Mfg. by 17.2% in the 2nd quarter. Algert Global LLC now owns 12,158 shares of the company’s stock valued at $169,000 after acquiring an additional 1,785 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Virco Mfg. by 115.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company’s stock worth $37,000 after purchasing an additional 1,850 shares during the last quarter. nVerses Capital LLC purchased a new stake in Virco Mfg. in the 2nd quarter valued at approximately $36,000. Ritholtz Wealth Management grew its holdings in Virco Mfg. by 7.0% during the 3rd quarter. Ritholtz Wealth Management now owns 97,527 shares of the company’s stock valued at $1,347,000 after buying an additional 6,399 shares during the last quarter. Finally, Inspire Investing LLC increased its position in Virco Mfg. by 12.5% during the third quarter. Inspire Investing LLC now owns 58,300 shares of the company’s stock worth $805,000 after buying an additional 6,481 shares in the last quarter. Hedge funds and other institutional investors own 30.97% of the company’s stock.

About Virco Mfg.

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.