Commercial Vehicle Group (NASDAQ:CVGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $9.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 12.78% from the company’s previous close.
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. “
Several other research analysts have also recently issued reports on the company. ValuEngine raised Commercial Vehicle Group from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub raised Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Commercial Vehicle Group in a research report on Tuesday, December 11th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $9.00.
Commercial Vehicle Group (NASDAQ:CVGI) last released its quarterly earnings data on Monday, March 11th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Commercial Vehicle Group had a return on equity of 41.48% and a net margin of 4.96%. The company had revenue of $223.60 million during the quarter, compared to the consensus estimate of $215.00 million. On average, equities analysts predict that Commercial Vehicle Group will post 1.44 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Perritt Capital Management Inc. bought a new stake in Commercial Vehicle Group in the fourth quarter valued at about $57,000. Meeder Asset Management Inc. boosted its position in Commercial Vehicle Group by 245.7% in the fourth quarter. Meeder Asset Management Inc. now owns 13,338 shares of the company’s stock valued at $77,000 after buying an additional 9,480 shares in the last quarter. Bank of America Corp DE boosted its position in Commercial Vehicle Group by 95.4% in the fourth quarter. Bank of America Corp DE now owns 16,765 shares of the company’s stock valued at $96,000 after buying an additional 8,186 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Commercial Vehicle Group in the third quarter valued at about $211,000. Finally, Stone Ridge Asset Management LLC boosted its position in Commercial Vehicle Group by 34.1% in the fourth quarter. Stone Ridge Asset Management LLC now owns 31,124 shares of the company’s stock valued at $177,000 after buying an additional 7,910 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
About Commercial Vehicle Group
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, the Global Truck and Bus, and the Global Construction and Agriculture.
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