Virco Manufacturing (NASDAQ:VIRC) Shares Cross Above 200-Day Moving Average – Should You Sell?

Virco Manufacturing Corporation (NASDAQ:VIRC)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $6.20 and traded as high as $6.28. Virco Manufacturing shares last traded at $6.28, with a volume of 13,349 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Friday, October 2nd. Wall Street Zen raised Virco Manufacturing from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Virco Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53. The firm’s 50 day simple moving average is $6.31 and its 200-day simple moving average is $6.20. The company has a market cap of $97.71 million, a price-to-earnings ratio of -38.75 and a beta of 0.14.

Virco Manufacturing (NASDAQ:VIRC) last issued its earnings results on Friday, September 4th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.48. The business had revenue of $87.47 million during the quarter, compared to analysts’ expectations of $72.10 million. Virco Manufacturing had a negative net margin of 1.31% and a negative return on equity of 2.32%.

Virco Manufacturing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 18th were issued a $0.0250 dividend. The ex-dividend date was Friday, September 18th. This represents a $0.10 dividend on an annualized basis and a yield of 1.6%. Virco Manufacturing’s dividend payout ratio is presently -62.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its holdings in shares of Virco Manufacturing by 101.6% in the second quarter. IFP Advisors Inc now owns 5,857 shares of the company’s stock valued at $36,000 after purchasing an additional 2,952 shares during the last quarter. Marquette Asset Management LLC acquired a new position in Virco Manufacturing during the second quarter worth $42,000. Empowered Funds LLC acquired a new position in Virco Manufacturing during the second quarter worth $245,000. GSA Capital Partners LLP purchased a new stake in Virco Manufacturing in the 2nd quarter valued at $332,000. Finally, SummerHaven Investment Management LLC purchased a new stake in Virco Manufacturing in the 3rd quarter valued at $374,000. 30.97% of the stock is currently owned by institutional investors and hedge funds.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, stools, computer furniture, storage products, and collaborative learning furniture.

The company serves K-12 schools, colleges and universities, government institutions, and other organizations through a network of dealers, distributors and direct sales channels. Its products are used in classrooms, libraries, cafeterias, laboratories, administrative areas and other educational or institutional settings.

Founded in 1950 by Julian Virtue, Virco has historically focused on domestic manufacturing and maintains operations associated with its long-standing U.S.