Commercial Vehicle Group Inc. (CVGI) Rating Lowered to Hold at Zacks Investment Research
Commercial Vehicle Group Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
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 lowered Commercial Vehicle Group from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Wednesday, July 6th.
Shares of Commercial Vehicle Group (NASDAQ:CVGI) opened at 5.89 on Wednesday. The company has a 50-day moving average price of $5.50 and a 200 day moving average price of $4.12. Commercial Vehicle Group has a 1-year low of $2.02 and a 1-year high of $6.00. The company has a market capitalization of $180.35 million, a P/E ratio of 31.16 and a beta of 1.82.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.06. Commercial Vehicle Group had a return on equity of 10.83% and a net margin of 0.74%. Equities research analysts anticipate that Commercial Vehicle Group will post $0.21 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Aristotle Capital Boston LLC raised its position in Commercial Vehicle Group by 0.5% in the second quarter. Aristotle Capital Boston LLC now owns 738,371 shares of the company’s stock worth $3,840,000 after buying an additional 3,381 shares in the last quarter. Weber Alan W raised its position in Commercial Vehicle Group by 2.1% in the second quarter. Weber Alan W now owns 208,922 shares of the company’s stock worth $1,086,000 after buying an additional 4,366 shares in the last quarter. Acrospire Investment Management LLC raised its position in Commercial Vehicle Group by 73.6% in the second quarter. Acrospire Investment Management LLC now owns 25,948 shares of the company’s stock worth $135,000 after buying an additional 10,998 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Commercial Vehicle Group during the second quarter worth $104,000. Finally, Dimensional Fund Advisors LP raised its position in Commercial Vehicle Group by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 717,716 shares of the company’s stock worth $3,732,000 after buying an additional 20,166 shares in the last quarter. Institutional investors own 56.65% of the company’s stock.
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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