Commercial Vehicle Group (NASDAQ:CVGI) Announces Earnings Results

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

Commercial Vehicle Group Stock Performance

NASDAQ:CVGI traded down $0.04 during trading hours on Tuesday, reaching $4.22. 481,228 shares of the company’s stock were exchanged, 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 has a quick ratio of 1.34, a current ratio of 2.43 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $154.58 million, a price-to-earnings ratio of -6.30 and a beta of 1.35. The company has a 50-day moving average of $3.26 and a 200 day moving average of $2.18.

Analyst Ratings Changes

A number of analysts have weighed in on CVGI shares. Wall Street Zen cut shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Commercial Vehicle Group in a research report on Wednesday, January 21st. Finally, Barrington Research reiterated an “outperform” rating and set a $6.00 price target on shares of Commercial Vehicle Group in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Institutional Investors Weigh In On Commercial Vehicle Group

Several hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP increased its position in 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 acquiring an additional 9,364 shares during the period. Bank of America Corp DE grew its stake 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 during the last quarter. Jane Street Group LLC increased its holdings in shares of Commercial Vehicle Group by 14.8% in the fourth quarter. Jane Street Group LLC now owns 90,989 shares of the company’s stock valued at $131,000 after purchasing an additional 11,742 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Commercial Vehicle Group by 34.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 78,421 shares of the company’s stock valued at $113,000 after purchasing an additional 20,058 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Commercial Vehicle Group during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 72.32% of the company’s stock.

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.