Commercial Vehicle Group, Inc. (NASDAQ:CVGI)’s share price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $9.93 and last traded at $8.38, with a volume of 136712 shares. The stock had previously closed at $8.32.

The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $198.30 million during the quarter, compared to the consensus estimate of $173.90 million. Commercial Vehicle Group had a return on equity of 10.65% and a net margin of 0.34%. The company’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS.

Separately, Zacks Investment Research upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Thursday, October 19th.

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP grew its holdings in Commercial Vehicle Group by 17.5% in the second quarter. Royce & Associates LP now owns 1,848,637 shares of the company’s stock valued at $15,621,000 after purchasing an additional 274,781 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its position in Commercial Vehicle Group by 3.0% during the second quarter. Eagle Boston Investment Management Inc. now owns 1,024,538 shares of the company’s stock worth $8,657,000 after buying an additional 30,189 shares during the period. OxFORD Asset Management LLP lifted its position in Commercial Vehicle Group by 14.5% during the second quarter. OxFORD Asset Management LLP now owns 280,551 shares of the company’s stock worth $2,371,000 after buying an additional 35,464 shares during the period. Bank of America Corp DE lifted its position in Commercial Vehicle Group by 50.6% during the first quarter. Bank of America Corp DE now owns 125,727 shares of the company’s stock worth $851,000 after buying an additional 42,216 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Commercial Vehicle Group by 10.2% during the first quarter. Renaissance Technologies LLC now owns 1,242,000 shares of the company’s stock worth $8,408,000 after buying an additional 114,794 shares during the period. 72.45% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $256.50, a PE ratio of 33.28 and a beta of 0.85. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 2.28.

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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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