Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 reduced their price objective on Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, May 8th.
Shares of Commercial Vehicle Group (CVGI) opened at 6.30 on Friday. Commercial Vehicle Group has a 12 month low of $4.21 and a 12 month high of $9.62. The stock’s 50 day moving average is $8.33 and its 200 day moving average is $7.47. The firm has a market cap of $188.20 million, a PE ratio of 82.89 and a beta of 0.66.
Commercial Vehicle Group (NASDAQ:CVGI) last released its quarterly earnings data on Monday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.05. The firm had revenue of $195.13 million during the quarter, compared to analyst estimates of $186.20 million. Commercial Vehicle Group had a net margin of 0.34% and a return on equity of 10.65%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, analysts anticipate that Commercial Vehicle Group will post $0.36 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Rockshelter Capital Management LLC raised its position in Commercial Vehicle Group by 409.5% in the first quarter. Rockshelter Capital Management LLC now owns 875,165 shares of the company’s stock valued at $5,925,000 after buying an additional 703,385 shares in the last quarter. Renaissance Technologies LLC raised its position in Commercial Vehicle Group by 50.1% in the second quarter. Renaissance Technologies LLC now owns 1,864,305 shares of the company’s stock valued at $15,753,000 after buying an additional 622,305 shares in the last quarter. ClariVest Asset Management LLC raised its position in Commercial Vehicle Group by 758.2% in the second quarter. ClariVest Asset Management LLC now owns 625,054 shares of the company’s stock valued at $5,282,000 after buying an additional 552,225 shares in the last quarter. AJO LP purchased a new position in Commercial Vehicle Group during the second quarter valued at $3,490,000. Finally, Royce & Associates LP raised its position in Commercial Vehicle Group by 35.5% in the first quarter. Royce & Associates LP now owns 1,573,856 shares of the company’s stock valued at $10,655,000 after buying an additional 412,355 shares in the last quarter. 59.79% of the stock is currently 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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