Commercial Vehicle Group Inc. (CVGI) Rating Lowered to Hold at Zacks Investment Research
Commercial Vehicle Group Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Commercial Vehicle Group supplies interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, the construction market and other specialized transportation markets. The company’s products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry and floor systems, mirrors, wiper systems, controls and switches specifically designed for applications in commercial vehicle cabs. “
Separately, Seaport Global Securities downgraded Commercial Vehicle Group from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Wednesday, July 6th.
Shares of Commercial Vehicle Group (NASDAQ:CVGI) opened at 5.89 on Wednesday. Commercial Vehicle Group has a 12 month low of $2.02 and a 12 month high of $6.00. The stock has a market capitalization of $180.35 million, a P/E ratio of 31.16 and a beta of 1.82. The company’s 50 day moving average price is $5.50 and its 200-day moving average price is $4.12.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. Commercial Vehicle Group had a return on equity of 10.83% and a net margin of 0.74%. Equities analysts predict that Commercial Vehicle Group will post $0.21 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new position in Commercial Vehicle Group during the second quarter worth $383,000. LMR Partners LLP purchased a new position in Commercial Vehicle Group during the second quarter worth $158,000. Lucus Advisors LLC purchased a new position in Commercial Vehicle Group during the second quarter worth $256,000. Smith Asset Management Group LP purchased a new position in Commercial Vehicle Group during the second quarter worth $352,000. Finally, Acadian Asset Management LLC increased its position in Commercial Vehicle Group by 216.5% in the second quarter. Acadian Asset Management LLC now owns 463,342 shares of the company’s stock worth $2,409,000 after buying an additional 316,933 shares during the period. Hedge funds and other institutional investors own 56.65% of the company’s stock.
Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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