Commercial Vehicle Group (NASDAQ:CVGI) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Commercial Vehicle Group (NASDAQ:CVGI) issued its quarterly earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08), FiscalAI reports. The business had revenue of $195.24 million during the quarter, compared to analyst estimates of $171.61 million. Commercial Vehicle Group had a negative return on equity of 12.47% and a negative net margin of 2.70%.

Commercial Vehicle Group Trading Up 1.3%

Shares of NASDAQ CVGI traded up $0.06 during midday trading on Monday, hitting $4.59. The stock had a trading volume of 632,779 shares, compared to its average volume of 769,975. The company has a market capitalization of $167.63 million, a price-to-earnings ratio of -8.83 and a beta of 1.45. Commercial Vehicle Group has a 1-year low of $1.29 and a 1-year high of $5.88. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $4.87 and a 200 day moving average price of $3.66.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Commercial Vehicle Group during the fourth quarter valued at approximately $33,000. Engineers Gate Manager LP grew its stake in Commercial Vehicle Group by 87.1% during the second quarter. Engineers Gate Manager LP now owns 20,116 shares of the company’s stock worth $33,000 after buying an additional 9,364 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Commercial Vehicle Group in the second quarter worth $78,000. Bank of America Corp DE raised 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 acquiring an additional 10,242 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Commercial Vehicle Group during the 2nd quarter valued at $84,000. Hedge funds and other institutional investors own 72.32% of the company’s stock.

Wall Street Analyst Weigh In

CVGI has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Commercial Vehicle Group in a report on Tuesday, June 9th. Noble Financial restated an “outperform” rating on shares of Commercial Vehicle Group in a report on Thursday, May 7th. Wall Street Zen lowered shares of Commercial Vehicle Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $6.00 price target on shares of Commercial Vehicle Group in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.00.

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.