Commercial Vehicle Group (NASDAQ:CVGI) Issues Quarterly Earnings Results

Commercial Vehicle Group (NASDAQ:CVGI) issued its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04, FiscalAI reports. Commercial Vehicle Group had a negative net margin of 3.51% and a negative return on equity of 11.74%. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $159.97 million.

Commercial Vehicle Group Trading Down 0.9%

Shares of CVGI traded down $0.04 during midday trading on Tuesday, reaching $4.22. The stock had a trading volume of 481,228 shares, compared to its average volume of 462,023. Commercial Vehicle Group has a 1-year low of $0.88 and a 1-year high of $4.50. The company’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $2.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.43 and a quick ratio of 1.34.

Analysts Set New Price Targets

Several brokerages have commented on CVGI. Weiss Ratings reissued a “sell (d)” rating on shares of Commercial Vehicle Group in a research report on Wednesday, January 21st. Barrington Research reissued an “outperform” rating and issued a $6.00 price target on shares of Commercial Vehicle Group in a research report on Monday. Finally, Wall Street Zen cut shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

Institutional Investors Weigh In On Commercial Vehicle Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP raised its holdings in shares of Commercial Vehicle Group by 87.1% in the 2nd quarter. Engineers Gate Manager LP now owns 20,116 shares of the company’s stock valued at $33,000 after purchasing an additional 9,364 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Commercial Vehicle Group by 46.1% in the 4th quarter. Bank of America Corp DE now owns 32,473 shares of the company’s stock valued at $81,000 after purchasing an additional 10,242 shares in the last quarter. Jane Street Group LLC raised its stake in Commercial Vehicle Group by 14.8% during the 4th quarter. Jane Street Group LLC now owns 90,989 shares of the company’s stock worth $131,000 after acquiring an additional 11,742 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Commercial Vehicle Group by 34.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 78,421 shares of the company’s stock worth $113,000 after acquiring an additional 20,058 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Commercial Vehicle Group during the 4th quarter worth $33,000. 72.32% of the stock is currently owned by institutional investors and hedge funds.

About Commercial Vehicle Group

Commercial Vehicle Group, Inc (NASDAQ: CVGI) is a global designer, engineer and manufacturer of seating systems and interior components for commercial vehicles. The company serves original equipment manufacturers (OEMs) in the on‐highway, off‐highway and specialty vehicle markets, supplying complete seating assemblies, suspension mechanisms and interior trim products. CVGI’s offerings are aimed at enhancing driver comfort, safety and overall vehicle usability across a diverse range of applications, from heavy‐duty trucks and transit buses to agricultural and construction equipment.

The company’s product portfolio is organized around three core segments: Seating, Controls and Interiors.