Commercial Vehicle Group (CVGI) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Commercial Vehicle Group (NASDAQ:CVGI) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday. The firm currently has $13.00 target price on the stock.
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. “
A number of other analysts have also weighed in on CVGI. BidaskClub lowered shares of Commercial Vehicle Group from a strong-buy rating to a buy rating in a research note on Thursday, January 11th. ValuEngine lowered shares of Commercial Vehicle Group from a buy rating to a hold rating in a research note on Friday, December 1st.
Commercial Vehicle Group (NASDAQ:CVGI) last posted its earnings results on Monday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The firm had revenue of $198.30 million during the quarter, compared to analysts’ expectations of $173.90 million. During the same quarter in the prior year, the firm earned $0.07 EPS. Commercial Vehicle Group’s quarterly revenue was up 29.1% on a year-over-year basis. sell-side analysts forecast that Commercial Vehicle Group will post 0.46 earnings per share for the current year.
Several large investors have recently modified their holdings of CVGI. Wells Fargo & Company MN lifted its stake in shares of Commercial Vehicle Group by 54.7% in the 3rd quarter. Wells Fargo & Company MN now owns 15,312 shares of the company’s stock worth $113,000 after acquiring an additional 5,412 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Commercial Vehicle Group in the 3rd quarter worth approximately $139,000. The Manufacturers Life Insurance Company lifted its stake in shares of Commercial Vehicle Group by 10,810.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,020 shares of the company’s stock worth $195,000 after acquiring an additional 22,809 shares during the period. Rhumbline Advisers acquired a new stake in shares of Commercial Vehicle Group in the 2nd quarter worth approximately $225,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Commercial Vehicle Group in the 2nd quarter worth approximately $227,000. 76.44% of the stock is owned by institutional investors.
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Commercial Vehicle Group Company Profile
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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