Commercial Vehicle Group, Inc. (CVGI) Announces Earnings Results
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) posted its quarterly earnings results on Monday. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.05, Briefing.com reports. The company had revenue of $195.13 million during the quarter, compared to analyst estimates of $186.20 million. Commercial Vehicle Group had a return on equity of 11.58% and a net margin of 0.74%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share.
Commercial Vehicle Group (NASDAQ CVGI) traded down 17.74% on Tuesday, hitting $7.28. 890,345 shares of the company’s stock were exchanged. The stock has a market cap of $224.55 million, a P/E ratio of 45.50 and a beta of 0.66. The firm has a 50 day moving average price of $8.37 and a 200-day moving average price of $7.38. Commercial Vehicle Group has a 52-week low of $4.05 and a 52-week high of $9.62.
In related news, Director Scott C. Arves sold 8,500 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $9.30, for a total transaction of $79,050.00. Following the sale, the director now directly owns 107,606 shares of the company’s stock, valued at approximately $1,000,735.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.01% of the company’s stock.
Separately, Seaport Global Securities reduced their price target on shares of Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating for the company in a report on Monday, May 8th.
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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