The stock of Virco Mfg. Corporation (NASDAQ:VIRC) gapped up by $0.02 today and has $5.45 target or 32.00% above today’s $4.13 share price. The 8 months technical chart setup indicates low risk for the $63.00M company. The gap was reported on Oct, 1 by Barchart.com. If the $5.45 price target is reached, the company will be worth $20.16M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.24% or $0.01 on September 30, hitting $4.13. About 15,216 shares traded hands. Virco Mfg. Corporation (NASDAQ:VIRC) has risen 29.23% since February 29, 2016 and is uptrending. It has outperformed by 18.81% the S&P500.
Virco Mfg. Corporation (NASDAQ:VIRC) Ratings Coverage
Out of 2 analysts covering Virco Mfg. (NASDAQ:VIRC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Virco Mfg. has been the topic of 2 analyst reports since September 22, 2015 according to StockzIntelligence Inc. The company was upgraded on Tuesday, September 22 by Zacks.
According to Zacks Investment Research, “Virco Mfg. Corporation designs, produces, and distributes quality furniture for the contract and education markets worldwide. Examples of facilities served by Virco include public and private schools, colleges and universities, convention centers, federal and state institutions, churches and other businesses. They also sell to wholesalers, distributors, retailers and catalog retailers. In order to divide the workload into manageable amounts, Virco has divided the sales force into two groups: Education and Commercial.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.14, from 0.86 in 2016Q1. The ratio increased, as 2 funds sold all Virco Mfg. Corporation shares owned while 7 reduced positions. 2 funds bought stakes while 7 increased positions. They now own 4.22 million shares or 0.76% more from 4.19 million shares in 2016Q1.
Grt Prns Ltd holds 0.02% or 17,605 shares in its portfolio. Deutsche Bank & Trust Ag last reported 0% of its portfolio in the stock. Nationwide Fund Advsrs owns 1,500 shares or 0% of their US portfolio. Geode Capital Llc reported 20,878 shares or 0% of all its holdings. California Pub Employees Retirement has 55,276 shares for 0% of their US portfolio. The Massachusetts-based Acadian Asset Management Limited Com has invested 0% in Virco Mfg. Corporation (NASDAQ:VIRC). Renaissance Techs Ltd holds 0% or 184,900 shares in its portfolio. Goldman Sachs last reported 0% of its portfolio in the stock. Northern has invested 0% of its portfolio in Virco Mfg. Corporation (NASDAQ:VIRC). The New York-based Commercial Bank Of New York Mellon Corp has invested 0% in Virco Mfg. Corporation (NASDAQ:VIRC). Blackrock Institutional Trust Na accumulated 0% or 76,437 shares. Moreover, Walleye Trading Limited Liability Com has 0% invested in Virco Mfg. Corporation (NASDAQ:VIRC) for 463 shares. Stonebridge Capital Mngmt Inc, a California-based fund reported 13,000 shares. Dimensional Fund Advsrs Limited Partnership has 0% invested in the company for 495,677 shares. Blackrock Fund Advsr holds 0% of its portfolio in Virco Mfg. Corporation (NASDAQ:VIRC) for 1,471 shares.
Insider Transactions: Since April 27, 2016, the stock had 2 buys, and 1 sale for $1 net activity. 3,667 shares were bought by VIRTUE DOUGLAS A, worth $11,698. BELL JERRY SCOTT also sold $23,207 worth of Virco Mfg. Corporation (NASDAQ:VIRC) on Wednesday, April 27. 3,608 shares were bought by VIRTUE ROBERT A, worth $11,510 on Wednesday, April 27.
More news for Virco Mfg. Corporation (NASDAQ:VIRC) were recently published by: Thestreet.com, which released: “Virco Manufacturing (VIRC) Downgraded From Hold to Sell” on December 04, 2014. Zacks.com‘s article titled: “Virco Mfg. Stock: 3 Reasons Why VIRC Is a Top Choice for Value Investors” and published on May 08, 2015 is yet another important article.
VIRC Company Profile
Virco Mfg. Corporation (Virco), incorporated on April 23, 1984, is engaged in the designing, producing and distributing of furniture for a range family of customers. The Firm is a maker and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. The Firm makes an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, activity tables, folding chairs and folding tables. The Company’s primary furniture lines are constructed of tubular metal legs and frames, combined with wood and plastic tops, plastic seats and backs, upholstered seats and backs, and upholstered rigid polyethylene and polypropylene shells. Virco also has flat metal forming capabilities to enable the production of desks, returns, bookcases, filing cabinets, mobile pedestals and related items.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.