Commercial Vehicle Group (CVGI) Rating Lowered to Hold at Zacks Investment Research
Commercial Vehicle Group (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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, ValuEngine upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th.
Commercial Vehicle Group (NASDAQ:CVGI) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.11. Commercial Vehicle Group had a return on equity of 14.58% and a net margin of 0.82%. The company had revenue of $198.30 million for the quarter, compared to analysts’ expectations of $173.90 million. During the same quarter last year, the business earned $0.07 earnings per share. Commercial Vehicle Group’s revenue was up 29.1% on a year-over-year basis. sell-side analysts expect that Commercial Vehicle Group will post 0.32 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of CVGI. Wells Fargo & Company MN increased its position in shares of Commercial Vehicle Group by 54.7% in the third quarter. Wells Fargo & Company MN now owns 15,312 shares of the company’s stock worth $113,000 after purchasing an additional 5,412 shares during the period. SG Americas Securities LLC bought a new position in shares of Commercial Vehicle Group in the third quarter worth $139,000. The Manufacturers Life Insurance Company increased its position in shares of Commercial Vehicle Group by 10,810.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,020 shares of the company’s stock worth $195,000 after purchasing an additional 22,809 shares during the period. Rhumbline Advisers bought a new position in shares of Commercial Vehicle Group in the second quarter worth $225,000. Finally, New York State Common Retirement Fund bought a new position in shares of Commercial Vehicle Group in the second quarter worth $227,000. Institutional investors own 76.44% of the company’s stock.
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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