Commercial Vehicle Group (CVGI) Rating Increased to Buy at Zacks Investment Research
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 brokerage presently has a $9.00 target price on the stock. Zacks Investment Research‘s target price would indicate 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 brokerages also recently commented on CVGI. BidaskClub raised shares of Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. ValuEngine raised shares of Commercial Vehicle Group from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Seaport Global Securities reissued a “buy” rating and set a $9.00 price objective on shares of Commercial Vehicle Group in a research report on Tuesday, December 11th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.00.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings data on Monday, March 11th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Commercial Vehicle Group had a net margin of 4.96% and a return on equity of 41.48%. The company had revenue of $223.60 million for the quarter, compared to the consensus estimate of $215.00 million. Equities research analysts expect that Commercial Vehicle Group will post 1.44 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Commercial Vehicle Group by 11.8% during the 4th quarter. Geode Capital Management LLC now owns 361,006 shares of the company’s stock valued at $2,057,000 after purchasing an additional 38,138 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Commercial Vehicle Group by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,777,364 shares of the company’s stock valued at $10,131,000 after purchasing an additional 23,171 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Commercial Vehicle Group during the 4th quarter valued at about $515,000. Squarepoint Ops LLC grew its position in Commercial Vehicle Group by 66.8% during the 4th quarter. Squarepoint Ops LLC now owns 33,532 shares of the company’s stock valued at $191,000 after purchasing an additional 13,432 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Commercial Vehicle Group by 12.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 216,147 shares of the company’s stock valued at $1,232,000 after acquiring an additional 24,262 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.
Commercial Vehicle Group Company Profile
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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