Commercial Vehicle Group, Inc. (CVGI) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) from a hold rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $8.75 price target 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. “
Commercial Vehicle Group (NASDAQ:CVGI) traded up 0.72% during trading on Thursday, reaching $8.43. 182,182 shares of the company’s stock were exchanged. Commercial Vehicle Group has a 52 week low of $4.36 and a 52 week high of $9.62. The company’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.73. The stock has a market capitalization of $251.83 million, a price-to-earnings ratio of 110.92 and a beta of 0.80.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.05). Commercial Vehicle Group had a net margin of 0.34% and a return on equity of 10.65%. The company had revenue of $195.13 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts expect that Commercial Vehicle Group will post $0.36 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in Commercial Vehicle Group in the second quarter valued at approximately $377,000. The Manufacturers Life Insurance Company lifted its stake in 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 valued at $195,000 after acquiring an additional 22,809 shares during the last quarter. State Street Corp lifted its stake in Commercial Vehicle Group by 1,663.5% in the second quarter. State Street Corp now owns 278,477 shares of the company’s stock valued at $2,353,000 after acquiring an additional 262,686 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its stake in Commercial Vehicle Group by 17.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 157,891 shares of the company’s stock valued at $1,333,000 after acquiring an additional 23,900 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in Commercial Vehicle Group by 288.2% in the second quarter. PDT Partners LLC now owns 79,878 shares of the company’s stock valued at $675,000 after acquiring an additional 59,302 shares during the last quarter. Hedge funds and other institutional investors own 73.62% 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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