Commercial Vehicle Group, Inc. (CVGI) Downgraded by Zacks Investment Research to Hold
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 decreased their price objective on shares of Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating for the company in a research note on Monday, May 8th.
Shares of Commercial Vehicle Group (NASDAQ:CVGI) traded down 5.12% on Friday, hitting $6.30. 458,682 shares of the stock traded hands. The stock has a market cap of $188.20 million, a P/E ratio of 82.89 and a beta of 0.66. Commercial Vehicle Group has a 52-week low of $4.05 and a 52-week high of $9.62. The stock’s 50 day moving average price is $8.37 and its 200 day moving average price is $7.47.
Commercial Vehicle Group (NASDAQ:CVGI) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by $0.05. Commercial Vehicle Group had a return on equity of 10.65% and a net margin of 0.34%. The firm had revenue of $195.13 million during the quarter, compared to analysts’ expectations of $186.20 million. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts expect that Commercial Vehicle Group will post $0.36 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in CVGI. Sei Investments Co. raised its stake in shares of Commercial Vehicle Group by 66.2% in the first quarter. Sei Investments Co. now owns 111,717 shares of the company’s stock worth $757,000 after buying an additional 44,486 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Commercial Vehicle Group by 19.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,305 shares of the company’s stock worth $6,411,000 after buying an additional 186,080 shares during the last quarter. Segantii Capital Management Ltd boosted its position in Commercial Vehicle Group by 568.0% in the first quarter. Segantii Capital Management Ltd now owns 33,400 shares of the company’s stock worth $226,000 after buying an additional 28,400 shares during the last quarter. First Manhattan Co. boosted its position in Commercial Vehicle Group by 34.7% in the first quarter. First Manhattan Co. now owns 496,615 shares of the company’s stock worth $2,870,000 after buying an additional 127,973 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Commercial Vehicle Group during the first quarter worth approximately $155,000. 59.79% of the stock is owned by institutional investors and hedge funds.
About Commercial Vehicle Group
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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