Virco Mfg. (NASDAQ:VIRC) Stock Passes Above 200-Day Moving Average - Here's Why

Virco Mfg. Co. (NASDAQ:VIRC - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.14 and traded as high as $14.70. Virco Mfg. shares last traded at $14.49, with a volume of 84,999 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Virco Mfg. from a "strong-buy" rating to a "buy" rating in a research note on Thursday, July 25th.

Virco Mfg. Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20. The stock's 50 day moving average is $14.29 and its two-hundred day moving average is $14.17. The firm has a market cap of $267.97 million, a P/E ratio of 8.78 and a beta of 0.65.

Virco Mfg. (NASDAQ:VIRC - Get Free Report) last released its earnings results on Monday, September 9th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $108.42 million during the quarter, compared to the consensus estimate of $115.90 million. Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. As a group, equities analysts predict that Virco Mfg. Co. will post 1.93 EPS for the current year.

Virco Mfg. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 20th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.61%. This is a positive change from Virco Mfg.'s previous quarterly dividend of $0.02. The ex-dividend date was Friday, September 20th. Virco Mfg.'s payout ratio is presently 6.06%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in Virco Mfg. during the second quarter valued at approximately $36,000. Lazard Asset Management LLC increased its holdings in Virco Mfg. by 115.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,450 shares of the company's stock worth $37,000 after acquiring an additional 1,850 shares in the last quarter. LSV Asset Management bought a new stake in Virco Mfg. in the first quarter worth $90,000. SG Americas Securities LLC purchased a new position in shares of Virco Mfg. during the second quarter valued at $127,000. Finally, Creative Planning purchased a new position in Virco Mfg. in the third quarter valued at about $159,000. 30.97% of the stock is owned by institutional investors.

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.