Commercial Vehicle Group, Inc. (CVGI) Issues Quarterly Earnings Results
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) posted its quarterly earnings data on Monday. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11, Bloomberg Earnings reports. The firm had revenue of $198.30 million for the quarter, compared to analysts’ expectations of $173.90 million. Commercial Vehicle Group had a return on equity of 15.02% and a net margin of 0.82%. The company’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS.
Commercial Vehicle Group (NASDAQ CVGI) traded down $0.21 during mid-day trading on Wednesday, reaching $9.91. The company’s stock had a trading volume of 150,951 shares, compared to its average volume of 185,956. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 2.28. The company has a market cap of $311.99, a PE ratio of 24.65 and a beta of 0.85. Commercial Vehicle Group has a 1 year low of $4.36 and a 1 year high of $10.15.
Several research firms have weighed in on CVGI. ValuEngine upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Thursday, October 19th.
An institutional investor recently raised its position in Commercial Vehicle Group stock. State Street Corp grew its position in shares of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) by 1,663.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 278,477 shares of the company’s stock after buying an additional 262,686 shares during the period. State Street Corp owned approximately 0.93% of Commercial Vehicle Group worth $2,353,000 at the end of the most recent quarter. 72.45% 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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